Boston Partners Cuts Stake in Ooma, Inc. (NYSE:OOMA)

Boston Partners lowered its position in shares of Ooma, Inc. (NYSE:OOMA) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,579 shares of the technology company’s stock after selling 199,345 shares during the period. Boston Partners owned approximately 1.42% of Ooma worth $5,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. bought a new stake in shares of Ooma in the 3rd quarter worth $98,000. Paloma Partners Management Co purchased a new stake in shares of Ooma during the third quarter valued at $126,000. SG Americas Securities LLC lifted its stake in Ooma by 26.4% during the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,663 shares during the period. PDT Partners LLC bought a new position in Ooma during the 3rd quarter valued at about $170,000. Finally, XTX Topco Ltd bought a new stake in shares of Ooma in the third quarter worth approximately $185,000. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Ooma Price Performance

Shares of Ooma stock opened at $13.30 on Friday. The stock has a market cap of $359.02 million, a P/E ratio of -35.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The stock’s fifty day moving average is $14.30 and its 200 day moving average is $13.41. Ooma, Inc. has a one year low of $6.50 and a one year high of $17.00.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Benchmark increased their price objective on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Northland Securities raised their price target on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Lake Street Capital reduced their price objective on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, B. Riley upped their price target on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average 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.