Connor Clark & Lunn Investment Management Ltd. Buys 66,009 Shares of Ooma, Inc. (NYSE:OOMA)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Ooma, Inc. (NYSE:OOMA) by 40.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,221 shares of the technology company’s stock after acquiring an additional 66,009 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.85% of Ooma worth $3,223,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Virtus Investment Advisers Inc. acquired a new position in Ooma in the third quarter valued at about $98,000. Paloma Partners Management Co bought a new position in Ooma in the 3rd quarter valued at about $126,000. SG Americas Securities LLC raised its position in shares of Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after buying an additional 2,663 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Ooma during the 3rd quarter worth approximately $170,000. Finally, XTX Topco Ltd acquired a new stake in shares of Ooma during the 3rd quarter worth approximately $185,000. 80.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on OOMA shares. Northland Securities boosted their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. B. Riley boosted their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Benchmark boosted their target price on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, 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 research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ooma currently has an average rating of “Buy” and an average price target of $17.63.

Ooma Trading Down 1.2 %

Shares of OOMA stock opened at $13.45 on Tuesday. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $17.00. The stock’s fifty day simple moving average is $14.32 and its 200 day simple moving average is $13.36. 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 firm has a market capitalization of $363.23 million, a P/E ratio of -36.36 and a beta of 0.99.

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.