Allspring Global Investments Holdings LLC Sells 12,303 Shares of Ooma, Inc. (NYSE:OOMA)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 45.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,692 shares of the technology company’s stock after selling 12,303 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ooma were worth $167,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OOMA. Covestor Ltd grew its stake in shares of Ooma by 52.7% in the 1st quarter. Covestor Ltd now owns 6,197 shares of the technology company’s stock valued at $53,000 after buying an additional 2,138 shares during the period. Bailard Inc. bought a new stake in shares of Ooma during the second quarter valued at approximately $108,000. SG Americas Securities LLC acquired a new position in shares of Ooma during the third quarter worth approximately $115,000. Cubist Systematic Strategies LLC bought a new position in shares of Ooma in the 2nd quarter worth $119,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Ooma in the 1st quarter valued at $130,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Ooma presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Ooma Stock Up 2.3 %

OOMA stock opened at $12.23 on Monday. The firm has a market capitalization of $327.76 million, a PE ratio of -64.37 and a beta of 0.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $12.65. The stock’s 50 day moving average is $11.31 and its 200-day moving average is $9.50.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $64.13 million for the quarter, compared to analysts’ expectations of $62.72 million. Ooma had a negative return on equity of 2.22% and a negative net margin of 2.04%. Sell-side analysts expect that Ooma, Inc. will post -0.1 EPS for the current fiscal year.

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.