Ooma, Inc. $OOMA is Trigran Investments Inc.’s 7th Largest Position

Trigran Investments Inc. cut its stake in Ooma, Inc. (NYSE:OOMA) by 8.9% in the second quarter, HoldingsChannel reports. The firm owned 3,008,870 shares of the technology company’s stock after selling 293,137 shares during the quarter. Ooma makes up about 6.7% of Trigran Investments Inc.’s investment portfolio, making the stock its 7th biggest position. Trigran Investments Inc. owned about 0.11% of Ooma worth $38,814,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OOMA. Bard Associates Inc. increased its stake in Ooma by 5.9% in the first quarter. Bard Associates Inc. now owns 28,257 shares of the technology company’s stock valued at $370,000 after purchasing an additional 1,582 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Ooma by 2,188.0% during the second quarter. New York State Teachers Retirement System now owns 2,288 shares of the technology company’s stock worth $30,000 after purchasing an additional 2,188 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Ooma by 203.1% in the 2nd quarter. Legal & General Group Plc now owns 6,226 shares of the technology company’s stock worth $80,000 after acquiring an additional 4,172 shares during the period. PDT Partners LLC lifted its position in Ooma by 48.8% in the first quarter. PDT Partners LLC now owns 30,105 shares of the technology company’s stock valued at $394,000 after purchasing an additional 9,870 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Ooma by 4.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 239,992 shares of the technology company’s stock valued at $3,141,000 after buying an additional 10,771 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Price Performance

OOMA opened at $11.27 on Friday. Ooma, Inc. has a 12 month low of $9.79 and a 12 month high of $17.00. The business has a 50-day moving average of $11.39 and a two-hundred day moving average of $12.11. The stock has a market capitalization of $311.02 million, a price-to-earnings ratio of -160.96 and a beta of 1.34.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OOMA shares. Lake Street Capital boosted their price objective on shares of Ooma from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. JMP Securities restated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 27th. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of Ooma in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.