Acadian Asset Management LLC Has $4.95 Million Position in Ooma, Inc. (NYSE:OOMA)

Acadian Asset Management LLC boosted its position in Ooma, Inc. (NYSE:OOMA) by 99.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,884 shares of the technology company’s stock after purchasing an additional 188,705 shares during the period. Acadian Asset Management LLC owned 1.69% of Ooma worth $4,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OOMA. Russell Investments Group Ltd. increased its stake in shares of Ooma by 12.5% in the second quarter. Russell Investments Group Ltd. now owns 1,888,563 shares of the technology company’s stock valued at $31,113,000 after buying an additional 210,466 shares during the period. Wasatch Advisors Inc. increased its stake in shares of Ooma by 13.4% in the second quarter. Wasatch Advisors Inc. now owns 481,182 shares of the technology company’s stock valued at $7,930,000 after buying an additional 56,976 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Ooma in the second quarter valued at about $4,010,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Ooma by 35.7% in the second quarter. Jacobs Levy Equity Management Inc. now owns 194,377 shares of the technology company’s stock valued at $3,203,000 after buying an additional 51,112 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Ooma by 16.1% in the third quarter. Wells Fargo & Company MN now owns 141,087 shares of the technology company’s stock valued at $1,840,000 after buying an additional 19,523 shares during the period. 81.11% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on OOMA. Zacks Investment Research cut Ooma from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. B. Riley raised their target price on Ooma from $22.00 to $23.50 in a research note on Friday. Alliance Global Partners raised their target price on Ooma from $22.00 to $24.00 in a research note on Friday. Finally, Northland Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Ooma in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ooma has an average rating of “Buy” and an average target price of $21.50.

Shares of NYSE:OOMA opened at $16.28 on Friday. The business’s 50 day simple moving average is $14.06 and its two-hundred day simple moving average is $14.27. The firm has a market cap of $364.67 million, a P/E ratio of -32.56 and a beta of 0.45. Ooma, Inc. has a 52-week low of $7.45 and a 52-week high of $19.18.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Wednesday, November 18th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Ooma had a negative return on equity of 20.50% and a negative net margin of 6.49%. On average, equities research analysts expect that Ooma, Inc. will post -0.18 earnings per share for the current year.

Ooma Company Profile

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based software-as-a-service and unified-communications-as-a-service (UCaaS) platforms serve as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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