Ooma, Inc. (NYSE:OOMA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in Ooma, Inc. (NYSE:OOMA) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,246,310 shares of the technology company’s stock after acquiring an additional 60,500 shares during the quarter. Wellington Management Group LLP owned 4.83% of Ooma worth $13,373,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OOMA. Hsbc Holdings PLC acquired a new stake in Ooma during the third quarter worth approximately $291,000. Covestor Ltd raised its holdings in Ooma by 31.6% during the third quarter. Covestor Ltd now owns 3,943 shares of the technology company’s stock worth $51,000 after purchasing an additional 946 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ooma by 10.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,803 shares of the technology company’s stock worth $973,000 after purchasing an additional 6,784 shares in the last quarter. Corton Capital Inc. acquired a new stake in Ooma during the third quarter worth approximately $142,000. Finally, GSA Capital Partners LLP raised its holdings in Ooma by 6.4% during the third quarter. GSA Capital Partners LLP now owns 60,319 shares of the technology company’s stock worth $785,000 after purchasing an additional 3,649 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on OOMA. B. Riley reissued a “buy” rating and set a $14.50 price objective (down previously from $19.00) on shares of Ooma in a report on Wednesday, March 6th. Lake Street Capital began coverage on shares of Ooma in a report on Monday, June 17th. They issued a “buy” rating and a $14.00 target price on the stock. Alliance Global Partners cut their target price on shares of Ooma from $16.00 to $14.50 and set a “buy” rating on the stock in a report on Wednesday, March 6th. TheStreet cut shares of Ooma from a “c” rating to a “d+” rating in a report on Tuesday, March 5th. Finally, Benchmark cut their target price on shares of Ooma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.50.

Ooma Stock Performance

NYSE:OOMA opened at $9.22 on Thursday. The firm’s fifty day moving average price is $7.92 and its 200 day moving average price is $9.11. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $15.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.81. The firm has a market cap of $243.41 million, a price-to-earnings ratio of -92.20 and a beta of 0.86.

Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, May 28th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Ooma had a negative net margin of 1.09% and a negative return on equity of 1.41%. The firm had revenue of $62.50 million during the quarter, compared to analysts’ expectations of $61.85 million. During the same quarter last year, the business earned $0.02 earnings per share. On average, sell-side analysts expect that Ooma, Inc. will post -0.11 EPS for the current year.

Ooma Company 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.