Royce & Associates LP Has $5.49 Million Position in Ooma, Inc. (OOMA)
Royce & Associates LP boosted its position in Ooma, Inc. (NYSE:OOMA) by 474.5% during the first quarter, Holdings Channel reports. The institutional investor owned 551,560 shares of the technology company’s stock after buying an additional 455,550 shares during the period. Royce & Associates LP’s holdings in Ooma were worth $5,488,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of OOMA. Dynamic Technology Lab Private Ltd bought a new position in shares of Ooma during the fourth quarter valued at approximately $113,000. Oxford Asset Management bought a new position in shares of Ooma during the fourth quarter valued at approximately $118,000. Trexquant Investment LP bought a new position in shares of Ooma during the first quarter valued at approximately $189,000. Bank of New York Mellon Corp increased its position in shares of Ooma by 86.9% in the first quarter. Bank of New York Mellon Corp now owns 19,150 shares of the technology company’s stock valued at $191,000 after buying an additional 8,904 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of Ooma during the first quarter valued at approximately $199,000. Institutional investors and hedge funds own 73.82% of the company’s stock.
Shares of Ooma, Inc. (OOMA) traded down 0.904% on Tuesday, hitting $8.225. The stock had a trading volume of 24,073 shares. The firm’s market capitalization is $150.30 million. Ooma, Inc. has a 1-year low of $7.67 and a 1-year high of $12.30. The firm has a 50 day moving average of $10.05 and a 200-day moving average of $9.90.
Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The company had revenue of $27.58 million for the quarter, compared to analysts’ expectations of $28.14 million. Ooma had a negative return on equity of 29.82% and a negative net margin of 11.51%. Ooma’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. Equities analysts predict that Ooma, Inc. will post ($0.11) earnings per share for the current year.
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Several brokerages have commented on OOMA. B. Riley reaffirmed a “buy” rating and set a $13.00 target price on shares of Ooma in a report on Sunday, May 28th. William Blair downgraded Ooma from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 24th. ValuEngine downgraded Ooma from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Bank of America Corporation downgraded Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. Finally, Credit Suisse Group downgraded Ooma from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $12.00 in a report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.75.
In related news, major shareholder Equity I. L.L.C. Worldview sold 144,027 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $9.77, for a total value of $1,407,143.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.42% of the stock is owned by company insiders.
Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.
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