Integrated Quantitative Investments LLC Buys New Shares in Ooma, Inc. (NYSE:OOMA)

Integrated Quantitative Investments LLC purchased a new stake in Ooma, Inc. (NYSE:OOMA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,461 shares of the technology company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OOMA. Charles Schwab Investment Management Inc. raised its position in shares of Ooma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock worth $807,000 after buying an additional 3,138 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Ooma by 24.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,284 shares of the technology company’s stock valued at $482,000 after acquiring an additional 8,439 shares during the period. Walleye Capital LLC lifted its stake in shares of Ooma by 101.6% during the third quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock worth $627,000 after purchasing an additional 27,727 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Ooma in the third quarter valued at about $126,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Ooma by 0.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock worth $2,047,000 after acquiring an additional 1,364 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Lake Street Capital reduced their target price on shares of Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Benchmark upped their price target on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.63.

Ooma Stock Performance

OOMA stock opened at $12.20 on Friday. The stock’s 50 day simple moving average is $14.14 and its 200 day simple moving average is $13.59. Ooma, Inc. has a 12-month low of $6.50 and a 12-month high of $17.00. The firm has a market cap of $329.40 million, a P/E ratio of -32.97 and a beta of 0.99. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

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.