Charles Schwab Investment Management Inc. Grows Position in Ooma, Inc. (NYSE:OOMA)

Charles Schwab Investment Management Inc. lifted its position in shares of Ooma, Inc. (NYSE:OOMA) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 70,829 shares of the technology company’s stock after purchasing an additional 3,138 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ooma were worth $807,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Ooma during the 3rd quarter valued at $115,000. Bailard Inc. acquired a new position in Ooma in the 2nd quarter worth $108,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ooma during the second quarter valued at about $119,000. Gladius Capital Management LP purchased a new stake in shares of Ooma during the third quarter worth about $165,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Ooma during the 3rd quarter valued at approximately $229,000. 80.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OOMA has been the subject of a number of research analyst reports. B. Riley lifted their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Northland Securities lifted their target price on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Lake Street Capital boosted their price target on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. Finally, Benchmark increased their price target on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ooma currently has an average rating of “Buy” and an average price target of $16.60.

Ooma Trading Down 4.4 %

Shares of NYSE:OOMA opened at $14.05 on Thursday. The stock has a market capitalization of $379.35 million, a price-to-earnings ratio of -37.97 and a beta of 0.94. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a 50 day moving average price of $13.44 and a 200 day moving average price of $11.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.08.

Insider Activity at Ooma

In other Ooma news, Director William D. Pearce sold 3,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.54, for a total value of $57,498.00. Following the transaction, the director now owns 163,353 shares in the company, valued at approximately $2,538,505.62. This represents a 2.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of Ooma stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $15.10, for a total value of $929,858.00. Following the sale, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,633 shares of company stock worth $2,197,295 in the last quarter. 9.76% of the stock is owned by company insiders.

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.