B. Riley Financial Inc. increased its position in shares of Ooma, Inc. (NYSE:OOMA) by 62.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,526 shares of the technology company’s stock after purchasing an additional 72,681 shares during the quarter. B. Riley Financial Inc. owned approximately 1.03% of Ooma worth $2,015,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Ooma by 345.8% during the 1st quarter. Morgan Stanley now owns 108,751 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 84,354 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ooma by 118.5% during the 1st quarter. Geode Capital Management LLC now owns 105,441 shares of the technology company’s stock worth $1,049,000 after purchasing an additional 57,184 shares in the last quarter. Bank of New York Mellon Corp increased its position in Ooma by 187.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,044 shares of the technology company’s stock valued at $441,000 after acquiring an additional 35,894 shares in the last quarter. PDT Partners LLC acquired a new stake in Ooma in the 2nd quarter valued at about $421,000. Finally, Ameriprise Financial Inc. increased its position in Ooma by 7.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,459,000 shares of the technology company’s stock valued at $11,672,000 after acquiring an additional 103,000 shares in the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.
In other news, Director Russell Mann sold 32,500 shares of Ooma stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $10.46, for a total transaction of $339,950.00. Following the completion of the sale, the director now owns 81,279 shares in the company, valued at approximately $850,178.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Spencer D. Jackson sold 10,810 shares of Ooma stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $9.51, for a total transaction of $102,803.10. Following the sale, the vice president now owns 115,496 shares of the company’s stock, valued at approximately $1,098,366.96. The disclosure for this sale can be found here. Insiders sold a total of 66,371 shares of company stock valued at $671,551 in the last 90 days. Corporate insiders own 11.42% of the company’s stock.
Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $28.50 million during the quarter, compared to analysts’ expectations of $28.04 million. Ooma had a negative net margin of 11.65% and a negative return on equity of 32.00%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) EPS. equities research analysts forecast that Ooma, Inc. will post -0.69 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on OOMA shares. Northland Securities set a $11.00 price objective on shares of Ooma and gave the company a “buy” rating in a research report on Friday, August 25th. B. Riley restated a “buy” rating and issued a $13.00 price objective on shares of Ooma in a research report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Ooma has an average rating of “Hold” and a consensus target price of $12.67.
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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