Allspring Global Investments Holdings LLC Has $167,000 Stock Holdings in Ooma, Inc. (NYSE:OOMA)

Allspring Global Investments Holdings LLC lowered its position in shares of Ooma, Inc. (NYSE:OOMA) by 45.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,692 shares of the technology company’s stock after selling 12,303 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Ooma worth $167,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OOMA. Covestor Ltd increased its position in shares of Ooma by 52.7% in the first quarter. Covestor Ltd now owns 6,197 shares of the technology company’s stock valued at $53,000 after acquiring an additional 2,138 shares during the last quarter. Rhumbline Advisers increased its position in shares of Ooma by 17.1% during the 2nd quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock worth $374,000 after purchasing an additional 5,494 shares during the last quarter. Pitcairn Co. raised its stake in shares of Ooma by 30.5% during the 1st quarter. Pitcairn Co. now owns 27,122 shares of the technology company’s stock worth $231,000 after purchasing an additional 6,336 shares in the last quarter. Perritt Capital Management Inc boosted its holdings in shares of Ooma by 28.0% in the 2nd quarter. Perritt Capital Management Inc now owns 32,000 shares of the technology company’s stock valued at $318,000 after buying an additional 7,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Ooma in the third quarter valued at $115,000. 80.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.50.

Ooma Stock Performance

Ooma stock opened at $12.23 on Monday. The stock has a market cap of $327.76 million, a PE ratio of -64.37 and a beta of 0.92. 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 12-month low of $6.50 and a 12-month high of $12.65. The business’s 50-day moving average price is $11.31 and its two-hundred day moving average price is $9.50.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, August 27th. The technology company reported ($0.02) earnings per share (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 company had revenue of $64.13 million during the quarter, compared to the consensus estimate of $62.72 million. As a group, analysts expect that Ooma, Inc. will post -0.1 earnings per share for the current fiscal 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.