Ooma, Inc. (NYSE:OOMA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,525 shares of the technology company’s stock after selling 4,381 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ooma were worth $1,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its position in Ooma by 2.1% in the third quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock valued at $462,000 after purchasing an additional 818 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Ooma by 0.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock valued at $2,047,000 after buying an additional 1,364 shares during the last quarter. SG Americas Securities LLC increased its holdings in Ooma by 26.4% in the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after buying an additional 2,663 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ooma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock valued at $807,000 after buying an additional 3,138 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ooma by 0.9% in the third quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock valued at $6,226,000 after buying an additional 4,683 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Price Performance

NYSE OOMA opened at $13.30 on Monday. The business’s fifty day moving average is $14.30 and its two-hundred day moving average is $13.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. Ooma, Inc. has a 1 year low of $6.50 and a 1 year high of $17.00. The stock has a market capitalization of $359.02 million, a P/E ratio of -35.94 and a beta of 0.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Lake Street Capital decreased their target price on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. B. Riley boosted their price objective on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. Northland Securities boosted their price objective on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Benchmark boosted their price objective on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.63.

Ooma Company 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.