Ooma, Inc. $OOMA Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in shares of Ooma, Inc. (NYSE:OOMA) by 2,188.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,288 shares of the technology company’s stock after acquiring an additional 2,188 shares during the period. New York State Teachers Retirement System’s holdings in Ooma were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ooma by 3.6% during the first quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company’s stock worth $18,158,000 after acquiring an additional 48,459 shares during the period. Acadian Asset Management LLC grew its holdings in Ooma by 39.8% during the first quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company’s stock worth $12,344,000 after acquiring an additional 268,636 shares during the period. Millennium Management LLC grew its holdings in Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock worth $4,144,000 after acquiring an additional 142,220 shares during the period. Nuveen LLC purchased a new position in Ooma in the 1st quarter worth about $3,465,000. Finally, Goldman Sachs Group Inc. increased its stake in Ooma by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock worth $3,254,000 after purchasing an additional 11,300 shares in the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OOMA. Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of Ooma in a research note on Monday, August 25th. JMP Securities reissued a “market perform” rating on shares of Ooma in a research note on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.63.

Ooma Price Performance

NYSE:OOMA opened at $11.22 on Friday. Ooma, Inc. has a fifty-two week low of $10.89 and a fifty-two week high of $17.00. The stock’s 50-day moving average is $12.11 and its two-hundred day moving average is $12.34. The stock has a market cap of $309.67 million, a PE ratio of -160.26 and a beta of 1.28.

Insider Activity

In other news, CEO Eric B. Stang sold 19,265 shares of Ooma stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.85, for a total transaction of $247,555.25. Following the completion of the sale, the chief executive officer directly owned 688,729 shares in the company, valued at $8,850,167.65. The trade was a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shigeyuki Hamamatsu sold 7,335 shares of Ooma stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $12.89, for a total value of $94,548.15. Following the sale, the chief financial officer owned 191,972 shares of the company’s stock, valued at approximately $2,474,519.08. This represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

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.