TIAA CREF Investment Management LLC lifted its holdings in shares of Ooma Inc (NYSE:OOMA) by 25.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,090 shares of the technology company’s stock after purchasing an additional 12,253 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.32% of Ooma worth $718,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OOMA. Wells Fargo & Company MN grew its stake in Ooma by 6,480.6% during the 3rd quarter. Wells Fargo & Company MN now owns 28,165 shares of the technology company’s stock worth $297,000 after buying an additional 27,737 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Ooma by 35.7% in the 4th quarter. Deutsche Bank AG now owns 44,790 shares of the technology company’s stock valued at $533,000 after purchasing an additional 11,791 shares during the last quarter. EAM Investors LLC purchased a new position in shares of Ooma in the 4th quarter valued at approximately $698,000. Algert Global LLC grew its stake in shares of Ooma by 44.1% in the 4th quarter. Algert Global LLC now owns 68,396 shares of the technology company’s stock valued at $817,000 after purchasing an additional 20,923 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ooma by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 178,066 shares of the technology company’s stock valued at $2,127,000 after purchasing an additional 23,223 shares during the last quarter. 71.33% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on OOMA shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Ooma in a report on Wednesday, March 7th. Bank of America raised Ooma from an “underperform” rating to a “neutral” rating and set a $14.00 price target for the company in a report on Wednesday, March 7th. Northland Securities reissued a “buy” rating and set a $15.00 price target on shares of Ooma in a research report on Wednesday, March 7th. B. Riley boosted their price target on Ooma from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research downgraded Ooma from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Ooma has an average rating of “Hold” and an average price target of $14.00.
In other news, CFO Ravi Narula sold 4,976 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $12.00, for a total transaction of $59,712.00. Following the completion of the sale, the chief financial officer now owns 169,480 shares in the company, valued at approximately $2,033,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James A. Gustke sold 7,200 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $10.48, for a total value of $75,456.00. Following the completion of the sale, the vice president now owns 158,164 shares of the company’s stock, valued at approximately $1,657,558.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,176 shares of company stock valued at $284,968. 48.19% of the stock is currently owned by corporate insiders.
Ooma opened at $11.30 on Friday, Marketbeat reports. Ooma Inc has a 52 week low of $10.90 and a 52 week high of $10.95.
Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, March 6th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The business had revenue of $30.22 million during the quarter, compared to analyst estimates of $29.51 million. Ooma had a negative return on equity of 32.84% and a negative net margin of 11.46%. equities analysts predict that Ooma Inc will post -0.74 earnings per share for the current fiscal year.
Ooma Company Profile
Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.
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