Ooma, Inc. (NYSE:OOMA) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in Ooma, Inc. (NYSE:OOMA) by 18.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,069 shares of the technology company’s stock after selling 68,017 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.12% of Ooma worth $2,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its stake in Ooma by 52.7% during the 1st quarter. Covestor Ltd now owns 6,197 shares of the technology company’s stock valued at $53,000 after purchasing an additional 2,138 shares in the last quarter. Bailard Inc. acquired a new stake in Ooma in the 2nd quarter worth $108,000. State Board of Administration of Florida Retirement System bought a new stake in Ooma in the 1st quarter valued at $130,000. Pitcairn Co. boosted its stake in shares of Ooma by 30.5% in the 1st quarter. Pitcairn Co. now owns 27,122 shares of the technology company’s stock valued at $231,000 after purchasing an additional 6,336 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Ooma by 33.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company’s stock valued at $268,000 after purchasing an additional 6,732 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OOMA shares. Lake Street Capital began coverage on Ooma in a report on Monday, June 17th. They issued a “buy” rating and a $14.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

Ooma Price Performance

Shares of NYSE:OOMA opened at $11.40 on Friday. The company’s fifty day moving average is $10.17 and its 200 day moving average is $9.04. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Ooma, Inc. has a 52 week low of $6.50 and a 52 week high of $12.68. The stock has a market cap of $300.96 million, a PE ratio of -114.00 and a beta of 0.93.

Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Ooma had a negative net margin of 2.04% and a negative return on equity of 2.22%. The business had revenue of $64.13 million for the quarter, compared to analyst estimates of $62.72 million. Research analysts anticipate that Ooma, Inc. will post -0.1 earnings per share for the current year.

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.