Ooma, Inc. $OOMA Stock Position Lifted by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Ooma, Inc. by 53.9%, now owning approximately $1.98 million worth of shares, totaling 151,065 shares.
• Ooma has a consensus rating of "Moderate Buy" from analysts, with a target price of $17.63, indicating potential for growth in its stock value.
• As of now, institutional investors and hedge funds own about 80.42% of Ooma's stock, reflecting significant institutional interest in the company.

Trexquant Investment LP lifted its position in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,065 shares of the technology company's stock after acquiring an additional 52,932 shares during the period. Trexquant Investment LP owned about 0.55% of Ooma worth $1,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Ooma during the 1st quarter valued at approximately $3,465,000. Invesco Ltd. acquired a new stake in shares of Ooma during the 1st quarter valued at approximately $161,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Ooma by 4.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 239,992 shares of the technology company's stock valued at $3,141,000 after acquiring an additional 10,771 shares in the last quarter. Bard Associates Inc. grew its stake in Ooma by 5.9% during the 1st quarter. Bard Associates Inc. now owns 28,257 shares of the technology company's stock worth $370,000 after buying an additional 1,582 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Ooma by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company's stock worth $18,158,000 after buying an additional 48,459 shares during the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Shigeyuki Hamamatsu sold 7,335 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $12.89, for a total value of $94,548.15. Following the completion of the transaction, the chief financial officer owned 191,972 shares of the company's stock, valued at approximately $2,474,519.08. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric B. Stang sold 19,265 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $12.85, for a total value of $247,555.25. Following the completion of the transaction, the chief executive officer directly owned 688,729 shares of the company's stock, valued at approximately $8,850,167.65. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,498 shares of company stock worth $616,478. 9.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OOMA has been the subject of a number of recent research reports. JMP Securities restated a "market perform" rating on shares of Ooma in a research note on Wednesday, August 27th. Benchmark restated a "buy" rating and set a $20.00 price objective on shares of Ooma in a research note on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $17.63.

Ooma Stock Performance

Shares of NYSE:OOMA traded down $0.39 on Wednesday, hitting $12.52. The company's stock had a trading volume of 197,824 shares, compared to its average volume of 179,384. Ooma, Inc. has a 12 month low of $10.81 and a 12 month high of $17.00. The company has a market capitalization of $345.41 million, a price-to-earnings ratio of -178.76 and a beta of 1.30. The stock's 50-day moving average is $12.12 and its two-hundred day moving average is $12.70.

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.