Spark Investment Management LLC increased its position in shares of Ooma, Inc. (NYSE:OOMA) by 50.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,300 shares of the technology company’s stock after buying an additional 7,500 shares during the period. Spark Investment Management LLC owned approximately 0.12% of Ooma worth $221,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Ooma during the fourth quarter worth approximately $113,000. Oxford Asset Management acquired a new position in Ooma during the fourth quarter worth approximately $118,000. Trexquant Investment LP acquired a new position in Ooma during the first quarter worth approximately $189,000. Bank of New York Mellon Corp boosted its position in Ooma by 86.9% in the first quarter. Bank of New York Mellon Corp now owns 19,150 shares of the technology company’s stock worth $191,000 after buying an additional 8,904 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new position in Ooma during the first quarter worth approximately $199,000. Institutional investors and hedge funds own 74.66% of the company’s stock.

Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

Ooma, Inc. (OOMA) opened at 8.15 on Friday. The company’s market cap is $148.92 million. The company has a 50-day moving average price of $10.15 and a 200 day moving average price of $9.90. Ooma, Inc. has a 52 week low of $7.67 and a 52 week high of $12.30.

Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Ooma had a negative net margin of 11.51% and a negative return on equity of 29.82%. The firm had revenue of $27.58 million during the quarter, compared to the consensus estimate of $28.14 million. During the same quarter last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Ooma, Inc. will post ($0.11) EPS for the current fiscal year.

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A number of research analysts have recently commented on OOMA shares. Credit Suisse Group upped their target price on Ooma from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, March 8th. Bank of America Corporation cut Ooma from a “buy” rating to an “underperform” rating in a research note on Wednesday, May 24th. William Blair cut Ooma from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 24th. ValuEngine cut Ooma from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Finally, B. Riley reaffirmed a “buy” rating and set a $15.50 target price on shares of Ooma in a research note on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Ooma presently has an average rating of “Hold” and a consensus price target of $12.75.

In related news, VP James A. Gustke sold 6,000 shares of Ooma stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $9.78, for a total value of $58,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Equity I. L.L.C. Worldview sold 144,027 shares of Ooma stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $9.77, for a total transaction of $1,407,143.79. The disclosure for this sale can be found here. 48.19% of the stock is currently owned by company insiders.

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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