Ooma, Inc. (NYSE:OOMA) is Trigran Investments Inc.'s 9th Largest Position

Trigran Investments Inc. trimmed its position in Ooma, Inc. (NYSE:OOMA - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,487,277 shares of the technology company's stock after selling 337,002 shares during the quarter. Ooma comprises 5.6% of Trigran Investments Inc.'s holdings, making the stock its 9th largest position. Trigran Investments Inc. owned approximately 12.92% of Ooma worth $49,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ooma by 284.7% in the 4th 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 during the period. Alliancebernstein L.P. lifted its holdings in Ooma by 674.1% during the fourth quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company's stock valued at $1,806,000 after purchasing an additional 111,840 shares in the last quarter. Marshall Wace LLP grew its position in shares of Ooma by 188.3% in the fourth quarter. Marshall Wace LLP now owns 146,621 shares of the technology company's stock valued at $2,061,000 after purchasing an additional 95,765 shares during the period. Norges Bank purchased a new position in Ooma in the 4th quarter valued at about $1,067,000. Finally, Vanguard Group Inc. boosted its stake in shares of Ooma by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company's stock worth $18,822,000 after acquiring an additional 71,247 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company's stock.

Ooma Stock Down 0.9 %

NYSE OOMA traded down $0.11 during trading hours on Friday, hitting $11.70. 56,408 shares of the company were exchanged, compared to its average volume of 124,007. Ooma, Inc. has a 52-week low of $6.50 and a 52-week high of $17.00. The firm has a market cap of $322.78 million, a price-to-earnings ratio of -31.61 and a beta of 1.06. 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 company has a 50 day moving average of $13.26 and a two-hundred day moving average of $13.64.

Wall Street Analyst Weigh In

A number of research firms have commented on OOMA. 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. Lake Street Capital reduced their price target on shares of 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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.