Algert Global LLC Sells 3,730 Shares of Ooma, Inc. (NYSE:OOMA)

Algert Global LLC decreased its holdings in Ooma, Inc. (NYSE:OOMA) by 9.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,200 shares of the technology company’s stock after selling 3,730 shares during the period. Algert Global LLC owned about 0.15% of Ooma worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Avalon Investment & Advisory grew its holdings in shares of Ooma by 9.4% during the second quarter. Avalon Investment & Advisory now owns 152,509 shares of the technology company’s stock valued at $2,876,000 after buying an additional 13,123 shares during the last quarter. UBS Group AG boosted its stake in shares of Ooma by 77.0% during the 1st quarter. UBS Group AG now owns 5,331 shares of the technology company’s stock worth $84,000 after acquiring an additional 2,319 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Ooma during the 2nd quarter worth about $483,000. Cubist Systematic Strategies LLC boosted its stake in shares of Ooma by 24.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,693 shares of the technology company’s stock worth $280,000 after acquiring an additional 3,506 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Ooma by 97.0% during the 1st quarter. Barclays PLC now owns 17,853 shares of the technology company’s stock worth $283,000 after acquiring an additional 8,790 shares in the last quarter. 83.09% of the stock is owned by institutional investors.

Several research firms have recently issued reports on OOMA. Zacks Investment Research raised shares of Ooma from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Saturday, September 11th. JMP Securities increased their target price on shares of Ooma from $22.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. Benchmark upped their price target on shares of Ooma from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. B. Riley upped their price target on shares of Ooma from $24.00 to $27.50 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Finally, William Blair restated a “buy” rating on shares of Ooma in a research report on Friday, July 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $26.30.

Shares of NYSE:OOMA traded up $0.26 during mid-day trading on Thursday, reaching $19.37. 294 shares of the company were exchanged, compared to its average volume of 132,246. Ooma, Inc. has a 1 year low of $13.07 and a 1 year high of $24.89. The firm has a market cap of $455.20 million, a price-to-earnings ratio of -177.73 and a beta of 0.41. The firm’s 50-day simple moving average is $19.18 and its 200 day simple moving average is $18.51.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Thursday, September 2nd. The technology company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. Ooma had a negative net margin of 1.30% and a negative return on equity of 2.50%. The company had revenue of $47.06 million during the quarter, compared to analysts’ expectations of $46.36 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, research analysts predict that Ooma, Inc. will post -0.11 earnings per share for the current year.

Ooma Profile

Ooma, Inc engages in the provision of platform for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications. Its products and services include Ooma business and Ooma residential.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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