Geode Capital Management LLC Buys 4,683 Shares of Ooma, Inc. (NYSE:OOMA)

Geode Capital Management LLC boosted its position in shares of Ooma, Inc. (NYSE:OOMA) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,518 shares of the technology company’s stock after purchasing an additional 4,683 shares during the period. Geode Capital Management LLC owned about 2.04% of Ooma worth $6,226,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. acquired a new position in shares of Ooma during the third quarter worth about $98,000. SG Americas Securities LLC bought a new stake in Ooma in the 3rd quarter valued at approximately $115,000. Paloma Partners Management Co acquired a new position in Ooma during the 3rd quarter worth approximately $126,000. Cubist Systematic Strategies LLC bought a new position in shares of Ooma during the 2nd quarter worth approximately $119,000. Finally, Gladius Capital Management LP bought a new position in shares of Ooma during the 3rd quarter worth approximately $165,000. Institutional investors own 80.42% of the company’s stock.

Insider Buying and Selling at Ooma

In other news, SVP James A. Gustke sold 3,582 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $17.00, for a total transaction of $60,894.00. Following the completion of the sale, the senior vice president now owns 27,675 shares in the company, valued at $470,475. The trade was a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric B. Stang sold 61,580 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the transaction, the chief executive officer now owns 1,245,665 shares in the company, valued at approximately $18,809,541.50. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,457 shares of company stock worth $2,413,132 over the last ninety days. Insiders own 9.76% of the company’s stock.

Ooma Stock Up 0.6 %

OOMA opened at $14.22 on Friday. The stock’s fifty day simple moving average is $14.05 and its 200 day simple moving average is $11.52. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00. The stock has a market cap of $383.94 million, a PE ratio of -38.43 and a beta of 0.96. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04.

Analyst Ratings Changes

A number of brokerages have recently commented on OOMA. Benchmark boosted their price objective on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Northland Securities increased their price objective on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Lake Street Capital raised their price objective on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, B. Riley increased their price target on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $16.60.

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.