Ooma, Inc. (NYSE:OOMA) Position Lowered by Trigran Investments Inc.

Trigran Investments Inc. lowered its position in shares of Ooma, Inc. (NYSE:OOMA) by 8.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,487,277 shares of the technology company’s stock after selling 337,002 shares during the quarter. Ooma comprises 5.6% of Trigran Investments Inc.’s holdings, making the stock its 9th largest position. Trigran Investments Inc. owned about 0.13% of Ooma worth $49,031,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Prudential Financial Inc. purchased a new stake in shares of Ooma during the 4th quarter worth approximately $363,000. State Street Corp raised its stake in Ooma by 2.9% during the 3rd quarter. State Street Corp now owns 475,737 shares of the technology company’s stock worth $5,419,000 after acquiring an additional 13,240 shares in the last quarter. Inspire Investing LLC purchased a new stake in Ooma in the fourth quarter valued at $802,000. Barclays PLC boosted its stake in Ooma by 32.7% in the third quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after acquiring an additional 24,402 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Ooma during the third quarter worth about $197,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OOMA shares. Benchmark upped their target price on Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Lake Street Capital decreased their price objective on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One equities research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.63.

Ooma Price Performance

Shares of OOMA opened at $12.34 on Friday. The company has a market capitalization of $340.45 million, a price-to-earnings ratio of -33.34 and a beta of 1.06. Ooma, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $17.00. The firm has a 50-day simple moving average of $13.54 and a 200-day simple moving average of $13.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08.

Ooma 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.