State Street Corp Acquires 13,240 Shares of Ooma, Inc. (NYSE:OOMA)

State Street Corp grew its stake in shares of Ooma, Inc. (NYSE:OOMA) by 2.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 475,737 shares of the technology company’s stock after buying an additional 13,240 shares during the period. State Street Corp owned approximately 1.78% of Ooma worth $5,419,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Ooma during the 3rd quarter worth approximately $115,000. Paloma Partners Management Co acquired a new stake in shares of Ooma in the 3rd quarter valued at $126,000. Cubist Systematic Strategies LLC acquired a new position in Ooma during the 2nd quarter valued at about $119,000. Gladius Capital Management LP bought a new stake in shares of Ooma during the 3rd quarter valued at $165,000. Finally, PDT Partners LLC acquired a new position in shares of Ooma during the 3rd quarter worth about $170,000. Institutional investors own 80.42% of the company’s stock.

Insider Buying and Selling at Ooma

In other news, Director Andrew H. Galligan sold 14,824 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total transaction of $215,837.44. Following the transaction, the director now owns 241,932 shares in the company, valued at approximately $3,522,529.92. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James A. Gustke sold 3,582 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $17.00, for a total transaction of $60,894.00. Following the transaction, the senior vice president now directly owns 27,675 shares in the company, valued at $470,475. This trade represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,457 shares of company stock valued at $2,413,132. 9.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OOMA has been the subject of a number of research analyst reports. 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 stock a “buy” rating in a research note on Monday, November 25th. Benchmark increased their target price on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Lake Street Capital raised their target price on shares of Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Northland Securities upped their price target on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. 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 stock. According to data from MarketBeat, Ooma has a consensus rating of “Buy” and an average price target of $16.60.

Ooma Price Performance

Shares of NYSE:OOMA opened at $14.26 on Friday. The firm’s fifty day moving average is $13.85 and its 200-day moving average is $11.33. 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 firm has a market cap of $385.02 million, a PE ratio of -38.54 and a beta of 0.94. Ooma, Inc. has a 52 week low of $6.50 and a 52 week high of $17.00.

About Ooma

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.