Renaissance Technologies LLC Raises Position in Ooma, Inc. $OOMA

Renaissance Technologies LLC lifted its position in shares of Ooma, Inc. (NYSE:OOMA) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 912,203 shares of the technology company’s stock after acquiring an additional 99,100 shares during the quarter. Renaissance Technologies LLC owned 3.32% of Ooma worth $13,273,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Ooma by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,501,963 shares of the technology company’s stock valued at $18,009,000 after purchasing an additional 34,960 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ooma by 4.0% in the 4th quarter. JPMorgan Chase & Co. now owns 576,041 shares of the technology company’s stock valued at $6,757,000 after buying an additional 22,125 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ooma by 17.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 513,820 shares of the technology company’s stock valued at $6,161,000 after buying an additional 76,088 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Ooma in the first quarter valued at approximately $5,847,000. Finally, Dimensional Fund Advisors LP grew its holdings in Ooma by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 379,007 shares of the technology company’s stock worth $5,514,000 after acquiring an additional 44,097 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.

Insider Buying and Selling at Ooma

In related news, CEO Eric B. Stang sold 27,666 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $18.50, for a total value of $511,821.00. Following the sale, the chief executive officer directly owned 818,718 shares of the company’s stock, valued at approximately $15,146,283. This represents a 3.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Pearce sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $17.98, for a total transaction of $53,940.00. Following the transaction, the director owned 181,652 shares of the company’s stock, valued at $3,266,102.96. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 118,652 shares of company stock worth $2,225,186. Insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OOMA shares. Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research report on Wednesday, May 27th. B. Riley Financial restated a “buy” rating on shares of Ooma in a research report on Monday, May 18th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. Lake Street Capital increased their price target on shares of Ooma from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, UBS Group set a $24.00 price objective on shares of Ooma in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Ooma has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Ooma Stock Performance

OOMA opened at $21.75 on Friday. Ooma, Inc. has a 1-year low of $9.79 and a 1-year high of $22.20. The stock has a market cap of $598.10 million, a P/E ratio of 67.97 and a beta of 1.20. The stock’s 50 day simple moving average is $18.99 and its 200 day simple moving average is $15.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.69.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, May 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $81.15 million during the quarter, compared to analysts’ expectations of $79.84 million. Ooma had a return on equity of 20.21% and a net margin of 3.17%.Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. As a group, equities analysts anticipate that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Ooma Company Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.