Bank of New York Mellon Corp boosted its stake in shares of Ooma, Inc. (NYSE:OOMA) by 86.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,150 shares of the technology company’s stock after buying an additional 8,904 shares during the period. Bank of New York Mellon Corp’s holdings in Ooma were worth $191,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Ooma by 35.6% in the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the technology company’s stock valued at $3,308,000 after buying an additional 96,500 shares during the last quarter. Perkins Capital Management Inc. increased its stake in Ooma by 8.7% in the first quarter. Perkins Capital Management Inc. now owns 120,100 shares of the technology company’s stock valued at $1,195,000 after buying an additional 9,650 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Ooma during the first quarter valued at $1,697,000. Russell Investments Group Ltd. increased its stake in Ooma by 215.1% in the first quarter. Russell Investments Group Ltd. now owns 424,805 shares of the technology company’s stock valued at $4,228,000 after buying an additional 289,990 shares during the last quarter. Finally, Falcon Point Capital LLC purchased a new stake in Ooma during the first quarter valued at $1,434,000. Hedge funds and other institutional investors own 71.45% of the company’s stock.

Ooma, Inc. (NYSE OOMA) opened at 8.20 on Thursday. The firm has a 50-day moving average of $8.19 and a 200-day moving average of $9.65. The company’s market capitalization is $149.84 million. Ooma, Inc. has a one year low of $7.55 and a one year high of $12.30.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $27.58 million for the quarter, compared to analyst estimates of $28.14 million. Ooma had a negative return on equity of 29.82% and a negative net margin of 11.51%. Ooma’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. On average, analysts anticipate that Ooma, Inc. will post ($0.12) earnings per share for the current year.

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OOMA has been the subject of several recent research reports. B. Riley restated a “buy” rating and issued a $15.50 price objective on shares of Ooma in a report on Thursday, May 18th. Credit Suisse Group downgraded Ooma from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $12.00 in a report on Wednesday, May 24th. Bank of America Corporation downgraded Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. William Blair downgraded Ooma from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 24th. Finally, ValuEngine downgraded Ooma from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $12.40.

Ooma Company Profile

Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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