Essex Investment Management Co. LLC Sells 2,445 Shares of Ooma, Inc. (NYSE:OOMA)

Essex Investment Management Co. LLC reduced its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 12.2% during the fourth quarter, Holdings Channel reports. The fund owned 17,626 shares of the technology company’s stock after selling 2,445 shares during the period. Essex Investment Management Co. LLC’s holdings in Ooma were worth $248,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Virtus Investment Advisers Inc. purchased a new stake in shares of Ooma in the 3rd quarter valued at $98,000. Paloma Partners Management Co bought a new stake in Ooma in the third quarter worth $126,000. SG Americas Securities LLC boosted its position in Ooma by 26.4% during the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after buying an additional 2,663 shares during the period. Gladius Capital Management LP bought a new position in shares of Ooma during the third quarter valued at about $165,000. Finally, PDT Partners LLC purchased a new position in shares of Ooma in the third quarter worth about $170,000. 80.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. B. Riley increased their target price on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Benchmark lifted their target price on shares of Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Lake Street Capital dropped their price target on shares of Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Northland Securities boosted their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.63.

Ooma Price Performance

OOMA opened at $14.03 on Monday. The stock’s 50 day moving average price is $14.39 and its 200-day moving average price is $13.18. Ooma, Inc. has a 52-week low of $6.50 and a 52-week high of $17.00. The stock has a market capitalization of $378.76 million, a PE ratio of -37.91 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.

Insider Buying and Selling at Ooma

In other Ooma news, CFO Shigeyuki Hamamatsu sold 35,313 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.51, for a total transaction of $547,704.63. Following the transaction, the chief financial officer now owns 165,301 shares in the company, valued at approximately $2,563,818.51. This represents a 17.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Galligan sold 14,824 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the completion of the transaction, the director now owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. The trade was a 5.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,837 shares of company stock valued at $821,040. 9.76% of the stock is currently owned by company insiders.

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.