Schwab Charles Investment Management Inc. Buys 5,157 Shares of Ooma Inc (OOMA)

Schwab Charles Investment Management Inc. lifted its stake in shares of Ooma Inc (NYSE:OOMA) by 13.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,257 shares of the technology company’s stock after acquiring an additional 5,157 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.22% of Ooma worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Ooma by 978.6% during the first quarter. JPMorgan Chase & Co. now owns 254,189 shares of the technology company’s stock worth $2,771,000 after purchasing an additional 230,622 shares in the last quarter. Perkins Capital Management Inc. acquired a new position in shares of Ooma during the second quarter worth $826,000. Strs Ohio grew its stake in shares of Ooma by 1,036.7% during the second quarter. Strs Ohio now owns 55,700 shares of the technology company’s stock worth $788,000 after purchasing an additional 50,800 shares in the last quarter. BlackRock Inc. grew its stake in shares of Ooma by 3.8% during the first quarter. BlackRock Inc. now owns 878,596 shares of the technology company’s stock worth $9,575,000 after purchasing an additional 32,273 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its stake in shares of Ooma by 7.5% during the second quarter. Wasatch Advisors Inc. now owns 311,668 shares of the technology company’s stock worth $4,410,000 after purchasing an additional 21,752 shares in the last quarter. 74.51% of the stock is currently owned by institutional investors and hedge funds.

In other Ooma news, CFO Ravi Narula sold 4,533 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $16.17, for a total value of $73,298.61. Following the completion of the transaction, the chief financial officer now owns 181,801 shares in the company, valued at $2,939,722.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James A. Gustke sold 5,500 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $16.38, for a total transaction of $90,090.00. Following the completion of the transaction, the vice president now owns 138,275 shares of the company’s stock, valued at approximately $2,264,944.50. The disclosure for this sale can be found here. Insiders sold 46,315 shares of company stock valued at $734,373 in the last 90 days. 10.47% of the stock is currently owned by insiders.

A number of equities analysts recently commented on the stock. Credit Suisse Group started coverage on shares of Ooma in a research note on Friday, August 10th. They set a “neutral” rating and a $13.00 target price for the company. ValuEngine upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Finally, B. Riley upped their price objective on shares of Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Ooma currently has a consensus rating of “Buy” and an average price target of $15.50.

NYSE OOMA opened at $14.77 on Friday. Ooma Inc has a 1 year low of $9.00 and a 1 year high of $17.50.

Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, August 28th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Ooma had a negative net margin of 11.35% and a negative return on equity of 35.06%. The company had revenue of $31.68 million during the quarter, compared to the consensus estimate of $30.88 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Ooma’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts expect that Ooma Inc will post -0.75 EPS for the current fiscal year.

About Ooma

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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