Ooma, Inc. (NYSE:OOMA) Holdings Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Ooma, Inc. (NYSE:OOMA) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,284 shares of the technology company’s stock after acquiring an additional 8,439 shares during the period. BNP Paribas Financial Markets owned about 0.16% of Ooma worth $482,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position in shares of Ooma by 40.4% in the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 154,117 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ooma by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after buying an additional 66,678 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Ooma during the 2nd quarter valued at $119,000. SG Americas Securities LLC purchased a new position in shares of Ooma during the 3rd quarter valued at $115,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ooma in the third quarter worth $280,000. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OOMA has been the topic of a number of recent research reports. Lake Street Capital boosted their target price on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Northland Securities boosted their price target on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Benchmark lifted their price objective on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.60.

Ooma Price Performance

NYSE OOMA opened at $14.63 on Friday. Ooma, Inc. has a 1 year low of $6.50 and a 1 year high of $17.00. The company has a fifty day simple moving average of $13.30 and a 200 day simple moving average of $10.93. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04. The company has a market cap of $395.01 million, a P/E ratio of -39.54 and a beta of 0.94.

Insider Buying and Selling at Ooma

In related news, CFO Shigeyuki Hamamatsu sold 35,313 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.51, for a total transaction of $547,704.63. Following the completion of the transaction, the chief financial officer now directly owns 165,301 shares in the company, valued at $2,563,818.51. This represents a 17.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Pearce sold 3,700 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.54, for a total transaction of $57,498.00. Following the completion of the sale, the director now directly owns 163,353 shares of the company’s stock, valued at approximately $2,538,505.62. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,633 shares of company stock worth $2,197,295 over the last ninety days. Company insiders own 9.76% 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.