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

Jacobs Levy Equity Management Inc. trimmed its position in Ooma, Inc. (NYSE:OOMA - Free Report) by 31.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,528 shares of the technology company's stock after selling 57,151 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.45% of Ooma worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OOMA. Vanguard Group Inc. grew its stake in Ooma by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company's stock valued at $18,822,000 after acquiring an additional 71,247 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Ooma by 0.4% during 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. Geode Capital Management LLC grew its position in Ooma by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company's stock valued at $7,794,000 after purchasing an additional 7,693 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Ooma by 284.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company's stock valued at $3,557,000 after purchasing an additional 187,245 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Ooma by 40.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,221 shares of the technology company's stock valued at $3,223,000 after buying an additional 66,009 shares during the period. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Ooma Stock Down 0.8%

OOMA stock traded down $0.11 during trading hours on Wednesday, hitting $13.71. The company's stock had a trading volume of 8,058 shares, compared to its average volume of 123,102. The stock has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $13.77. Ooma, Inc. has a 12 month low of $7.16 and a 12 month high of $17.00. The company has a market capitalization of $377.83 million, a PE ratio of -37.04 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OOMA. Benchmark boosted their price target on shares of Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Lake Street Capital lowered their target price 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 research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Ooma presently has a consensus rating of "Buy" and an average target price of $17.63.

About Ooma

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.