Ooma, Inc. (NYSE:OOMA) Stake Decreased by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC cut its stake in Ooma, Inc. (NYSE:OOMA) by 9.9% during the first quarter, Holdings Channel reports. The firm owned 12,406 shares of the technology company’s stock after selling 1,364 shares during the period. Parametric Portfolio Associates LLC’s holdings in Ooma were worth $123,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of OOMA. Renaissance Technologies LLC boosted its stake in shares of 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 period. Perkins Capital Management Inc. boosted its stake in shares of 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 period. Granite Investment Partners LLC acquired a new stake in shares of Ooma during the first quarter valued at approximately $1,697,000. Russell Investments Group Ltd. boosted its stake in shares of 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 period. Finally, Falcon Point Capital LLC acquired a new stake in shares of Ooma during the first quarter valued at approximately $1,434,000. 71.45% of the stock is owned by institutional investors and hedge funds.
Shares of Ooma, Inc. (NYSE OOMA) opened at 8.20 on Thursday. Ooma, Inc. has a one year low of $7.55 and a one year high of $12.30. The stock’s market capitalization is $149.84 million. The company’s 50 day moving average price is $8.19 and its 200 day moving average price is $9.65.
Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The firm had revenue of $27.58 million during the quarter, compared to analyst estimates of $28.14 million. Ooma had a negative net margin of 11.51% and a negative return on equity of 29.82%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS. On average, analysts expect that Ooma, Inc. will post ($0.12) earnings per share for the current fiscal year.
Several analysts have recently commented on OOMA shares. B. Riley reaffirmed a “buy” rating and issued a $15.50 target price on shares of Ooma in a research report on Thursday, May 18th. Credit Suisse Group cut Ooma from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $12.00 in a research report on Wednesday, May 24th. Bank of America Corporation lowered Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. William Blair lowered Ooma from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 24th. Finally, ValuEngine lowered Ooma from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.40.
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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