Ooma, Inc. (NYSE:OOMA) Position Lowered by Bank of America Corp DE

Bank of America Corp DE decreased its stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 30.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,669 shares of the technology company's stock after selling 42,322 shares during the period. Bank of America Corp DE owned about 0.37% of Ooma worth $1,387,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of Ooma in the fourth quarter valued at approximately $92,000. EntryPoint Capital LLC acquired a new position in shares of Ooma during the fourth quarter valued at approximately $153,000. Oxford Asset Management LLP acquired a new position in shares of Ooma during the fourth quarter valued at approximately $168,000. SG Americas Securities LLC increased its stake in shares of Ooma by 26.4% during the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company's stock valued at $180,000 after acquiring an additional 2,663 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Ooma during the fourth quarter valued at approximately $189,000. Institutional investors own 80.42% of the company's stock.

Insider Activity at Ooma

In other Ooma news, CAO Namrata Sabharwal sold 3,428 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $13.46, for a total value of $46,140.88. Following the completion of the sale, the chief accounting officer now owns 80,931 shares of the company's stock, valued at approximately $1,089,331.26. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.90% of the stock is currently owned by company insiders.

Ooma Price Performance

NYSE:OOMA opened at $13.17 on Friday. Ooma, Inc. has a 12 month low of $7.83 and a 12 month high of $17.00. The company's 50-day moving average price is $12.72 and its two-hundred day moving average price is $13.77. The firm has a market cap of $362.92 million, a PE ratio of -35.59 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Lake Street Capital decreased their price target on shares of Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Benchmark lifted their target price on shares of Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $17.63.

About Ooma

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.

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