TIAA CREF Investment Management LLC purchased a new stake in shares of Ooma Inc (NYSE:OOMA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,811 shares of the technology company’s stock, valued at approximately $374,000. TIAA CREF Investment Management LLC owned about 0.26% of Ooma at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers purchased a new position in shares of Ooma during the 2nd quarter valued at $128,000. Bank of New York Mellon Corp lifted its position in shares of Ooma by 86.9% during the 1st quarter. Bank of New York Mellon Corp now owns 19,150 shares of the technology company’s stock valued at $191,000 after buying an additional 8,904 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Ooma during the 2nd quarter valued at $230,000. Teachers Advisors LLC purchased a new position in shares of Ooma during the 2nd quarter valued at $248,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ooma by 58.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,966 shares of the technology company’s stock valued at $348,000 after buying an additional 12,923 shares during the last quarter. 75.13% of the stock is currently owned by hedge funds and other institutional investors.
OOMA has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $13.00 price target on shares of Ooma in a research report on Monday, August 21st. Northland Securities reaffirmed a “buy” rating and set a $10.75 price target on shares of Ooma in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Ooma has an average rating of “Hold” and an average target price of $12.67.
Shares of Ooma Inc (NYSE OOMA) traded up $0.05 on Thursday, reaching $11.20. The company had a trading volume of 71,449 shares, compared to its average volume of 140,899. Ooma Inc has a twelve month low of $7.30 and a twelve month high of $12.30.
Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $28.04 million. Ooma had a negative return on equity of 32.00% and a negative net margin of 11.65%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) EPS. analysts expect that Ooma Inc will post -0.69 earnings per share for the current fiscal year.
In other Ooma news, CEO Eric B. Stang sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $11.22, for a total value of $112,200.00. Following the transaction, the chief executive officer now directly owns 1,257,704 shares in the company, valued at approximately $14,111,438.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James A. Gustke sold 5,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $9.81, for a total value of $49,050.00. Following the completion of the transaction, the vice president now owns 196,333 shares in the company, valued at $1,926,026.73. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock worth $783,751 in the last three months. 48.19% of the stock is currently owned by insiders.
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Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.
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