Citigroup Inc. raised its stake in Ooma, Inc. (NYSE:OOMA) by 312.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,117 shares of the technology company’s stock after buying an additional 3,119 shares during the quarter. Citigroup Inc.’s holdings in Ooma were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new stake in shares of Ooma in the 1st quarter worth approximately $28,000. Zebra Capital Management LLC acquired a new stake in Ooma in the third quarter worth $255,000. Rhumbline Advisers lifted its stake in Ooma by 6.4% in the fourth quarter. Rhumbline Advisers now owns 25,682 shares of the technology company’s stock valued at $370,000 after buying an additional 1,540 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Ooma by 3.1% during the third quarter. California State Teachers Retirement System now owns 31,150 shares of the technology company’s stock valued at $407,000 after acquiring an additional 925 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Ooma by 2.4% during the third quarter. California Public Employees Retirement System now owns 47,064 shares of the technology company’s stock worth $614,000 after acquiring an additional 1,100 shares during the last quarter. 75.83% of the stock is owned by institutional investors.
Shares of OOMA stock opened at $16.25 on Thursday. Ooma, Inc. has a 1 year low of $10.51 and a 1 year high of $19.18. The firm has a market capitalization of $368.88 million, a PE ratio of -81.25 and a beta of 0.31. The stock has a fifty day moving average of $16.41 and a two-hundred day moving average of $15.06.
Separately, Zacks Investment Research upgraded shares of Ooma from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Wednesday, March 10th.
In other news, CEO Eric B. Stang sold 7,535 shares of Ooma stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $17.53, for a total value of $132,088.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP James A. Gustke sold 1,403 shares of the business’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $18.00, for a total transaction of $25,254.00. Following the completion of the sale, the vice president now owns 128,285 shares in the company, valued at $2,309,130. The disclosure for this sale can be found here. Insiders sold 18,588 shares of company stock valued at $321,875 over the last quarter. Insiders own 10.19% of the company’s stock.
Ooma Company Profile
Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based software-as-a-service and unified-communications-as-a-service (UCaaS) platforms serve as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services.
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