Connor Clark & Lunn Investment Management Ltd. Has $3.22 Million Stock Position in Ooma, Inc. (NYSE:OOMA)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 40.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 229,221 shares of the technology company’s stock after acquiring an additional 66,009 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ooma were worth $3,223,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Inspire Investing LLC bought a new position in Ooma during the 4th quarter worth $802,000. Walleye Capital LLC raised its position 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 acquiring an additional 27,727 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ooma in the third quarter worth approximately $280,000. Barclays PLC boosted its holdings 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 during the last quarter. Finally, Martingale Asset Management L P increased its position in Ooma by 38.6% during the 3rd quarter. Martingale Asset Management L P now owns 63,127 shares of the technology company’s stock valued at $719,000 after purchasing an additional 17,590 shares during the period. Institutional investors own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OOMA. Benchmark boosted their price target on shares of Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. 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 research report on Thursday, December 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. B. Riley boosted their price objective on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Lake Street Capital decreased their target price on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $17.63.

Ooma Trading Down 1.2 %

Shares of OOMA stock opened at $13.45 on Tuesday. The company has a market capitalization of $363.23 million, a price-to-earnings ratio of -36.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The company has a 50-day simple moving average of $14.32 and a two-hundred day simple moving average of $13.36. Ooma, Inc. has a 52-week low of $6.50 and a 52-week high of $17.00.

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.