Essex Investment Management Co. LLC Decreases Holdings in Ooma, Inc. (NYSE:OOMA)

Essex Investment Management Co. LLC trimmed its stake in Ooma, Inc. (NYSE:OOMA) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,626 shares of the technology company’s stock after selling 2,445 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.07% of Ooma worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of OOMA. Virtus Investment Advisers Inc. purchased a new position in Ooma in the third quarter valued at approximately $98,000. Paloma Partners Management Co bought a new stake in shares of Ooma in the third quarter valued at $126,000. Gladius Capital Management LP purchased a new position in shares of Ooma during the 3rd quarter valued at $165,000. PDT Partners LLC bought a new position in shares of Ooma during the 3rd quarter worth $170,000. Finally, SG Americas Securities LLC increased its holdings in Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock worth $180,000 after acquiring an additional 2,663 shares during the last quarter. 80.42% of the stock is owned by institutional investors.

Ooma Price Performance

Shares of NYSE:OOMA opened at $14.03 on Monday. The company has a 50 day moving average of $14.39 and a 200 day moving average of $13.18. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The stock has a market cap of $378.76 million, a P/E ratio of -37.91 and a beta of 0.99. Ooma, Inc. has a 12 month low of $6.50 and a 12 month high of $17.00.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OOMA shares. B. Riley upped their price objective on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. Lake Street Capital dropped their price target on shares of Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Northland Securities raised their price objective on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Benchmark raised their price target on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.63.

Insider Buying and Selling at Ooma

In other Ooma news, CFO Shigeyuki Hamamatsu sold 35,313 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.51, for a total value of $547,704.63. Following the sale, the chief financial officer now owns 165,301 shares of the company’s stock, valued at $2,563,818.51. This trade represents a 17.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew H. Galligan sold 14,824 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total value of $215,837.44. Following the transaction, the director now directly owns 241,932 shares of the company’s stock, valued at $3,522,529.92. The trade was a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,837 shares of company stock valued at $821,040 in the last three months. 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.