Inspire Investing LLC Makes New Investment in Ooma, Inc. (NYSE:OOMA)

Inspire Investing LLC bought a new position in shares of Ooma, Inc. (NYSE:OOMA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,015 shares of the technology company’s stock, valued at approximately $802,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtus Investment Advisers Inc. bought a new stake in shares of Ooma during the 3rd quarter worth approximately $98,000. SG Americas Securities LLC bought a new stake in shares of Ooma during the 3rd quarter worth approximately $115,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ooma during the 2nd quarter worth approximately $119,000. Paloma Partners Management Co bought a new stake in shares of Ooma during the 3rd quarter worth approximately $126,000. Finally, Gladius Capital Management LP bought a new stake in shares of Ooma during the 3rd quarter worth approximately $165,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Insider Activity

In other news, Director Andrew H. Galligan sold 14,824 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total transaction of $215,837.44. Following the completion of the transaction, the director now owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $15.10, for a total transaction 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 trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,457 shares of company stock valued at $2,413,132. Insiders own 9.76% of the company’s stock.

Ooma Price Performance

OOMA stock opened at $14.39 on Friday. The company has a fifty day moving average price of $14.37 and a 200-day moving average price of $12.03. The company has a market capitalization of $388.40 million, a P/E ratio of -38.88 and a beta of 0.96. Ooma, Inc. has a 52-week low of $6.50 and a 52-week high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08.

Analysts Set New Price Targets

OOMA has been the subject of a number of recent analyst reports. B. Riley upped their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Northland Securities increased their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Lake Street Capital increased their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Benchmark increased their price objective on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. One research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $16.60.

Ooma Company Profile

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.