Spark Investment Management LLC increased its stake in Ooma, Inc. (NYSE:OOMA) by 385.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,300 shares of the technology company’s stock after buying an additional 86,000 shares during the period. Spark Investment Management LLC’s holdings in Ooma were worth $866,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Menta Capital LLC bought a new position in Ooma during the first quarter valued at about $122,000. FNY Partners Fund LP bought a new position in Ooma during the first quarter valued at about $129,000. Trexquant Investment LP bought a new position in Ooma during the first quarter valued at about $189,000. Bank of New York Mellon Corp raised its position in 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 Ooma during the first quarter valued at about $199,000. Institutional investors and hedge funds own 71.45% of the company’s stock.
Shares of Ooma, Inc. (NYSE OOMA) opened at 8.05 on Friday. The stock’s market cap is $147.10 million. The firm has a 50-day moving average price of $8.19 and a 200 day moving average price of $9.64. Ooma, Inc. has a 12-month low of $7.55 and a 12-month high of $12.30.
Ooma (NYSE:OOMA) last released its earnings results on Tuesday, May 23rd. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm 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%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Ooma, Inc. will post ($0.12) earnings per share for the current year.
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Several research firms recently issued reports on OOMA. B. Riley restated a “buy” rating and set a $15.50 price target on shares of Ooma in a research report on Thursday, May 18th. Northland Securities set a $11.00 price target on Ooma and gave the stock a “buy” rating in a research report on Friday, July 28th. William Blair lowered Ooma from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 24th. Bank of America Corporation lowered Ooma from a “buy” rating to an “underperform” rating in a research report on Wednesday, May 24th. Finally, Credit Suisse Group lowered Ooma from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $12.00 in a research report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Ooma has an average rating of “Hold” and a consensus price target of $12.40.
Ooma Company Profile
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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