Jacobs Levy Equity Management Inc. Sells 57,151 Shares of Ooma, Inc. (NYSE:OOMA)

Jacobs Levy Equity Management Inc. cut its holdings in Ooma, Inc. (NYSE:OOMA - Free Report) by 31.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,528 shares of the technology company's stock after selling 57,151 shares during the period. Jacobs Levy Equity Management Inc. owned 0.45% of Ooma worth $1,723,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC increased its stake in shares of Ooma by 0.9% in the fourth quarter. Barclays PLC now owns 99,891 shares of the technology company's stock worth $1,405,000 after purchasing an additional 927 shares during the period. SG Americas Securities LLC increased its stake in shares of Ooma by 26.4% in the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company's stock worth $180,000 after purchasing an additional 2,663 shares during the period. Renaissance Technologies LLC increased its stake in shares of Ooma by 0.4% in the fourth quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company's stock worth $11,615,000 after purchasing an additional 3,200 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ooma by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock worth $215,000 after purchasing an additional 3,466 shares during the period. Finally, PDT Partners LLC increased its stake 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 worth $285,000 after purchasing an additional 5,300 shares during the period. 80.42% of the stock is currently owned by institutional investors.

Ooma Trading Up 1.9%

Shares of OOMA opened at $13.75 on Friday. Ooma, Inc. has a 12-month low of $7.16 and a 12-month high of $17.00. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $378.96 million, a price-to-earnings ratio of -37.16 and a beta of 1.21. The stock's 50-day moving average price is $12.76 and its 200 day moving average price is $13.73.

Analyst Ratings Changes

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

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.

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