Ooma, Inc. (NYSE:OOMA) Position Cut by Bailard Inc.

Bailard Inc. lowered its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 38.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,057 shares of the technology company’s stock after selling 7,543 shares during the period. Bailard Inc.’s holdings in Ooma were worth $170,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. bought a new stake in shares of Ooma during the third quarter valued at about $98,000. Paloma Partners Management Co bought a new stake in shares of Ooma during the 3rd quarter worth about $126,000. Gladius Capital Management LP bought a new stake in shares of Ooma during the 3rd quarter worth about $165,000. PDT Partners LLC acquired a new stake in shares of Ooma in the 3rd quarter worth approximately $170,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Ooma by 26.4% in the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,663 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Trading Up 2.1 %

NYSE:OOMA opened at $14.04 on Thursday. The stock has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $13.07. The firm has a market capitalization of $379.16 million, a price-to-earnings ratio of -37.95 and a beta of 0.96. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

OOMA has been the topic of several recent analyst reports. Lake Street Capital dropped their target price on Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley upped their price objective on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Northland Securities upped their price target on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Benchmark lifted their price objective on shares of Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $17.00.

Insider Buying and Selling at Ooma

In other news, 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 value of $929,858.00. Following the completion of the sale, the chief executive officer now owns 1,245,665 shares in the company, valued at $18,809,541.50. This represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Pearce sold 3,700 shares of Ooma stock in a transaction 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 $2,538,505.62. This represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,875 shares of company stock valued at $2,352,238. 9.76% of the stock is currently owned by corporate 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.