Ooma, Inc. (NYSE:OOMA) Position Increased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its position in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 45.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,688 shares of the technology company's stock after buying an additional 18,919 shares during the quarter. Cubist Systematic Strategies LLC owned 0.22% of Ooma worth $853,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Ooma by 37.9% during the fourth quarter. BNP Paribas Financial Markets now owns 58,292 shares of the technology company's stock valued at $820,000 after buying an additional 16,008 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Ooma by 5.5% in the fourth quarter. Ameriprise Financial Inc. now owns 166,101 shares of the technology company's stock worth $2,335,000 after purchasing an additional 8,702 shares in the last quarter. PDT Partners LLC lifted its position 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 in the last quarter. Northern Trust Corp lifted its position in shares of Ooma by 5.4% in the fourth quarter. Northern Trust Corp now owns 215,579 shares of the technology company's stock worth $3,031,000 after purchasing an additional 11,107 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of Ooma in the fourth quarter worth approximately $168,000. 80.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OOMA has been the subject of a number of research analyst reports. Lake Street Capital reduced their price target on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Benchmark increased their price target on shares of Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $17.63.

Ooma Trading Up 0.9%

NYSE:OOMA opened at $13.51 on Thursday. The stock's 50 day moving average price is $12.76 and its 200 day moving average price is $13.72. Ooma, Inc. has a 52 week low of $7.16 and a 52 week high of $17.00. The company has a market capitalization of $372.35 million, a P/E ratio of -36.51 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.

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.

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