Ooma, Inc. (NYSE:OOMA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 30.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,669 shares of the technology company's stock after selling 42,322 shares during the quarter. Bank of America Corp DE owned 0.37% of Ooma worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in Ooma by 37.9% in the fourth quarter. BNP Paribas Financial Markets now owns 58,292 shares of the technology company's stock valued at $820,000 after buying an additional 16,008 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Ooma by 5.5% in the fourth quarter. Ameriprise Financial Inc. now owns 166,101 shares of the technology company's stock valued at $2,335,000 after buying an additional 8,702 shares during the last quarter. PDT Partners LLC increased its holdings in Ooma by 35.5% in the fourth quarter. PDT Partners LLC now owns 20,235 shares of the technology company's stock valued at $285,000 after buying an additional 5,300 shares during the last quarter. Northern Trust Corp increased its holdings in Ooma by 5.4% in the fourth quarter. Northern Trust Corp now owns 215,579 shares of the technology company's stock valued at $3,031,000 after buying an additional 11,107 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new position in Ooma in the fourth quarter valued at $168,000. Hedge funds and other institutional investors own 80.42% of the company's stock.

Insiders Place Their Bets

In other news, CAO Namrata Sabharwal sold 4,852 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $13.28, for a total transaction of $64,434.56. Following the completion of the sale, the chief accounting officer now owns 76,079 shares in the company, valued at approximately $1,010,329.12. This represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark increased their target price on Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Lake Street Capital dropped their target price on Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ooma has an average rating of "Buy" and an average target price of $17.63.

Ooma Stock Performance

Shares of OOMA stock traded up $0.03 during mid-day trading on Monday, hitting $13.27. 100,989 shares of the stock were exchanged, compared to its average volume of 123,748. The stock's fifty day simple moving average is $12.72 and its two-hundred day simple moving average is $13.76. The stock has a market capitalization of $365.84 million, a price-to-earnings ratio of -35.87 and a beta of 1.22. Ooma, Inc. has a 12-month low of $7.83 and a 12-month high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08.

Ooma Profile

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.