Ooma, Inc. (NYSE:OOMA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Ooma, Inc. (NYSE:OOMA) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 160,600 shares of the technology company’s stock after selling 4,048 shares during the period. Assenagon Asset Management S.A. owned 0.59% of Ooma worth $2,258,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its holdings in Ooma by 2.9% in the third quarter. State Street Corp now owns 475,737 shares of the technology company’s stock valued at $5,419,000 after buying an additional 13,240 shares during the last quarter. Walleye Capital LLC grew its position in shares of Ooma by 101.6% in the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock worth $627,000 after acquiring an additional 27,727 shares in the last quarter. Barclays PLC increased its holdings in shares of Ooma by 32.7% in the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after acquiring an additional 24,402 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Ooma by 69.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after acquiring an additional 66,678 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Ooma during the 2nd quarter valued at approximately $119,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ooma Price Performance

NYSE OOMA opened at $14.02 on Thursday. The company has a 50-day moving average price of $14.34 and a two-hundred day moving average price of $11.98. Ooma, Inc. has a 52 week low of $6.50 and a 52 week high of $17.00. The stock has a market cap of $378.46 million, a price-to-earnings ratio of -37.88 and a beta of 0.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In other Ooma news, Director Andrew H. Galligan sold 14,824 shares of the business’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 sale, the director now directly owns 241,932 shares in the company, valued at approximately $3,522,529.92. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric B. Stang sold 61,580 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $15.10, for a total transaction of $929,858.00. Following the completion of the transaction, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at $18,809,541.50. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,457 shares of company stock valued at $2,413,132 in the last three months. 9.76% of the stock is currently owned by corporate insiders.

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.