Charles Schwab Investment Management Inc. Increases Stake in Ooma, Inc. (NYSE:OOMA)

Charles Schwab Investment Management Inc. raised its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,829 shares of the technology company’s stock after buying an additional 3,138 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.26% of Ooma worth $807,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OOMA. Bailard Inc. acquired a new position in Ooma during the second quarter worth $108,000. SG Americas Securities LLC acquired a new position in shares of Ooma during the 3rd quarter valued at about $115,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ooma in the second quarter valued at about $119,000. Gladius Capital Management LP acquired a new position in Ooma in the 3rd quarter valued at about $165,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Ooma in the 3rd quarter valued at approximately $229,000. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on OOMA shares. Lake Street Capital lifted their target price on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Northland Securities lifted their price objective on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. B. Riley lifted their target price on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, JMP Securities reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, five 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 a consensus rating of “Buy” and a consensus price target of $16.60.

Ooma Price Performance

Shares of OOMA opened at $14.05 on Thursday. The firm has a 50-day simple moving average of $13.44 and a 200-day simple moving average of $11.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.08. The company has a market capitalization of $379.35 million, a price-to-earnings ratio of -37.97 and a beta of 0.94. Ooma, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $17.00.

Insider Buying and Selling

In related news, Director William D. Pearce sold 3,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.54, for a total value of $57,498.00. Following the sale, the director now owns 163,353 shares in the company, valued at $2,538,505.62. This represents a 2.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP James A. Gustke sold 3,582 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $17.00, for a total value of $60,894.00. Following the completion of the transaction, the senior vice president now owns 27,675 shares of the company’s stock, valued at approximately $470,475. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,633 shares of company stock valued at $2,197,295 over the last ninety days. Corporate insiders own 9.76% of the company’s stock.

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.