Two Sigma Advisers LP Acquires 62,100 Shares of Ooma, Inc. (NYSE:OOMA)

Two Sigma Advisers LP raised its stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,500 shares of the technology company's stock after buying an additional 62,100 shares during the period. Two Sigma Advisers LP owned about 0.50% of Ooma worth $1,891,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Ooma in the 4th quarter worth $92,000. EntryPoint Capital LLC purchased a new stake in Ooma in the 4th quarter worth $153,000. Oxford Asset Management LLP purchased a new stake in Ooma in the 4th quarter worth $168,000. SG Americas Securities LLC increased its stake in Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company's stock worth $180,000 after buying an additional 2,663 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in shares of Ooma during the 4th quarter valued at about $189,000. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Ooma Price Performance

Shares of OOMA traded up $0.31 during midday trading on Tuesday, hitting $13.43. 25,527 shares of the company traded hands, compared to its average volume of 122,113. The firm has a 50 day moving average of $12.72 and a 200-day moving average of $13.78. Ooma, Inc. has a 52 week low of $7.83 and a 52 week high of $17.00. The stock has a market cap of $370.14 million, a price-to-earnings ratio of -36.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08.

Analyst Ratings Changes

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

Ooma Company 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.