Ooma Inc (OOMA) Stake Raised by Algert Global LLC

Algert Global LLC grew its position in Ooma Inc (NYSE:OOMA) by 43.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 120,753 shares of the technology company’s stock after purchasing an additional 36,328 shares during the quarter. Algert Global LLC’s holdings in Ooma were worth $2,004,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Ooma by 7,344.6% in the 3rd quarter. Bank of Montreal Can now owns 9,678 shares of the technology company’s stock valued at $160,000 after purchasing an additional 9,548 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Ooma in the 3rd quarter valued at $183,000. Engineers Gate Manager LP acquired a new stake in shares of Ooma in the 2nd quarter valued at $157,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Ooma in the 3rd quarter valued at $192,000. Finally, Trexquant Investment LP acquired a new stake in shares of Ooma in the 2nd quarter valued at $173,000. Institutional investors own 76.63% of the company’s stock.

Shares of NYSE OOMA opened at $14.21 on Friday. The stock has a market cap of $279.50 million, a P/E ratio of -20.59 and a beta of 0.96. Ooma Inc has a 12-month low of $9.30 and a 12-month high of $17.50.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, November 27th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. The business had revenue of $32.61 million for the quarter, compared to the consensus estimate of $31.74 million. Ooma had a negative net margin of 11.23% and a negative return on equity of 36.11%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. Analysts forecast that Ooma Inc will post -0.69 earnings per share for the current year.

In related news, VP James A. Gustke sold 5,500 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $16.38, for a total transaction of $90,090.00. Following the transaction, the vice president now owns 138,275 shares in the company, valued at approximately $2,264,944.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric B. Stang sold 19,030 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $15.82, for a total transaction of $301,054.60. Following the transaction, the chief executive officer now owns 372,500 shares in the company, valued at approximately $5,892,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,594 shares of company stock worth $789,464. 10.47% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on OOMA shares. Zacks Investment Research upgraded shares of Ooma from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday. B. Riley boosted their target price on shares of Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Credit Suisse Group began coverage on shares of Ooma in a research note on Friday, August 10th. They issued a “neutral” rating and a $13.00 target price on the stock. Finally, William Blair upgraded shares of Ooma from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 28th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Ooma presently has a consensus rating of “Buy” and a consensus target price of $15.80.

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About Ooma

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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