Boston Partners Has $7.11 Million Stake in Ooma, Inc. (OOMA)
Boston Partners increased its stake in Ooma, Inc. (NYSE:OOMA) by 17.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 889,090 shares of the technology company’s stock after buying an additional 135,290 shares during the period. Boston Partners owned about 4.87% of Ooma worth $7,112,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Ooma by 97.1% in the first quarter. Ameriprise Financial Inc. now owns 1,356,000 shares of the technology company’s stock valued at $13,493,000 after buying an additional 668,100 shares in the last quarter. AWM Investment Company Inc. bought a new position in Ooma during the first quarter valued at approximately $11,075,000. Renaissance Technologies LLC raised its position in Ooma by 112.2% in the first quarter. Renaissance Technologies LLC now owns 780,000 shares of the technology company’s stock valued at $7,761,000 after buying an additional 412,500 shares in the last quarter. Park West Asset Management LLC raised its position in Ooma by 163.1% in the first quarter. Park West Asset Management LLC now owns 700,078 shares of the technology company’s stock valued at $6,966,000 after buying an additional 434,017 shares in the last quarter. Finally, Royce & Associates LP raised its position in Ooma by 474.5% in the first quarter. Royce & Associates LP now owns 551,560 shares of the technology company’s stock valued at $5,488,000 after buying an additional 455,550 shares in the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.
Shares of Ooma, Inc. (OOMA) opened at 7.75 on Friday. The firm’s market capitalization is $141.62 million. The company’s 50 day moving average price is $8.14 and its 200-day moving average price is $9.59. Ooma, Inc. has a 12 month low of $7.30 and a 12 month high of $12.30.
Ooma (NYSE:OOMA) last released its earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Ooma had a negative return on equity of 29.82% and a negative net margin of 11.51%. The firm had revenue of $27.58 million for the quarter, compared to the consensus estimate of $28.14 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Ooma, Inc. will post ($0.12) earnings per share for the current fiscal year.
OOMA has been the topic of several analyst reports. Northland Securities initiated coverage on Ooma in a report on Tuesday, June 27th. They set an “outperform” rating and a $10.50 price target on the stock. B. Riley reiterated a “buy” rating and set a $13.00 price target on shares of Ooma in a report on Sunday, May 28th. Credit Suisse Group lowered Ooma from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $12.00 in a 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. Finally, ValuEngine lowered Ooma from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price 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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