Vanguard Group Inc. Increases Holdings in Ooma, Inc. $OOMA

Key Points

• Vanguard Group Inc. increased its stake in Ooma, Inc. by 3.6%, acquiring an additional 48,459 shares, bringing its total ownership to 1,387,184 shares, which is valued at approximately $18 million.
• Institutional investors collectively own 80.42% of Ooma's shares, indicating strong investment interest in the company.
• Analysts generally hold a Moderate Buy consensus rating on Ooma stock, with a target price set at $17.63.

Vanguard Group Inc. raised its holdings in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,387,184 shares of the technology company's stock after purchasing an additional 48,459 shares during the quarter. Vanguard Group Inc. owned 5.03% of Ooma worth $18,158,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OOMA. Squarepoint Ops LLC purchased a new position in Ooma in the 4th quarter worth about $186,000. Wells Fargo & Company MN increased its position in shares of Ooma by 29.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock worth $215,000 after acquiring an additional 3,466 shares during the period. Bailard Inc. raised its stake in shares of Ooma by 36.0% during the first quarter. Bailard Inc. now owns 16,392 shares of the technology company's stock valued at $215,000 after acquiring an additional 4,335 shares in the last quarter. PDT Partners LLC boosted its holdings in shares of 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 purchasing an additional 5,300 shares during the period. Finally, Occudo Quantitative Strategies LP boosted its holdings in shares of Ooma by 14.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 22,957 shares of the technology company's stock valued at $323,000 after purchasing an additional 2,833 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ooma Trading Down 0.1%

Shares of NYSE:OOMA traded down $0.01 during trading on Wednesday, reaching $12.94. The stock had a trading volume of 51,563 shares, compared to its average volume of 142,353. The firm's 50-day simple moving average is $12.12 and its 200 day simple moving average is $12.78. Ooma, Inc. has a one year low of $10.23 and a one year high of $17.00. The company has a market capitalization of $357.14 million, a P/E ratio of -184.83 and a beta of 1.30.

Insiders Place Their Bets

In other Ooma news, Director Andrew H. Galligan sold 12,407 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $12.43, for a total transaction of $154,219.01. Following the sale, the director owned 241,081 shares of the company's stock, valued at approximately $2,996,636.83. The trade was a 4.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Namrata Sabharwal sold 9,491 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.66, for a total transaction of $120,156.06. Following the completion of the transaction, the chief accounting officer directly owned 65,935 shares of the company's stock, valued at approximately $834,737.10. This represents a 12.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,329 shares of company stock worth $556,082 over the last quarter. Company insiders own 9.90% of the company's stock.

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.