Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 194,921 Ooma, Inc. $OOMA

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ooma, Inc. (NYSE:OOMA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 194,921 shares of the technology company’s stock, valued at approximately $3,746,000.

Several other large investors have also made changes to their positions in the company. IFC & Insurance Marketing Inc. acquired a new stake in shares of Ooma during the 4th quarter worth about $34,000. Meeder Asset Management Inc. boosted its position in Ooma by 28.3% in the first quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company’s stock valued at $49,000 after buying an additional 740 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Ooma by 225.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company’s stock worth $47,000 after buying an additional 2,507 shares during the last quarter. CWM LLC grew its stake in Ooma by 45.6% during the fourth quarter. CWM LLC now owns 4,400 shares of the technology company’s stock worth $52,000 after buying an additional 1,378 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Ooma by 24.1% during the fourth quarter. Royal Bank of Canada now owns 4,466 shares of the technology company’s stock worth $53,000 after buying an additional 867 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.

Ooma Price Performance

Shares of OOMA stock opened at $22.90 on Friday. Ooma, Inc. has a 1 year low of $9.79 and a 1 year high of $26.19. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $20.44 and its 200-day moving average is $17.17. The firm has a market capitalization of $629.75 million, a price-to-earnings ratio of 60.26 and a beta of 1.19.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Ooma had a net margin of 3.57% and a return on equity of 23.89%. The business had revenue of $83.23 million during the quarter, compared to analyst estimates of $81.72 million. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. Sell-side analysts forecast that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director William D. Pearce sold 3,000 shares of Ooma stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.98, for a total value of $53,940.00. Following the completion of the sale, the director directly owned 181,652 shares of the company’s stock, valued at approximately $3,266,102.96. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Russell Mann sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $18.35, for a total value of $367,000.00. Following the transaction, the director directly owned 116,115 shares in the company, valued at $2,130,710.25. This trade represents a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 118,652 shares of company stock worth $2,225,186. 9.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OOMA shares. Citigroup reiterated a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. William Blair set a $24.00 price target on Ooma in a report on Monday, August 17th. Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research report on Thursday. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Ooma in a research note on Thursday. Finally, UBS Group restated a “buy” rating on shares of Ooma in a report on Thursday. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Ooma has an average rating of “Moderate Buy” and an average target price of $25.00.

Ooma Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.