Hillsdale Investment Management Inc. Acquires New Holdings in Ooma, Inc. $OOMA

Hillsdale Investment Management Inc. bought a new stake in Ooma, Inc. (NYSE:OOMA) in the 1st quarter, Holdings Channel.com reports. The fund bought 401,889 shares of the technology company’s stock, valued at approximately $5,847,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Ooma by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,501,963 shares of the technology company’s stock valued at $18,009,000 after buying an additional 34,960 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ooma by 4.0% during the fourth quarter. JPMorgan Chase & Co. now owns 576,041 shares of the technology company’s stock worth $6,757,000 after acquiring an additional 22,125 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Ooma by 17.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 513,820 shares of the technology company’s stock valued at $6,161,000 after acquiring an additional 76,088 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ooma by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 334,910 shares of the technology company’s stock worth $3,928,000 after acquiring an additional 17,184 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock worth $4,144,000 after purchasing an additional 142,220 shares during the period. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Ooma Stock Up 0.5%

Ooma stock opened at $20.52 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. Ooma, Inc. has a 1-year low of $9.79 and a 1-year high of $21.96. The company has a fifty day simple moving average of $18.50 and a 200 day simple moving average of $15.04. The company has a market cap of $564.36 million, a P/E ratio of 64.13 and a beta of 1.20.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Ooma had a net margin of 3.17% and a return on equity of 20.21%. The firm had revenue of $81.15 million for the quarter, compared to analysts’ expectations of $79.84 million. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. Research analysts anticipate that Ooma, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Ooma

In other Ooma news, Director William D. Pearce sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $17.98, for a total transaction of $53,940.00. Following the transaction, the director owned 181,652 shares of the company’s stock, valued at $3,266,102.96. The trade was a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric B. Stang sold 23,212 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.00, for a total value of $464,240.00. Following the sale, the chief executive officer owned 795,506 shares in the company, valued at approximately $15,910,120. This represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 116,895 shares of company stock valued at $2,186,532 in the last ninety days. Insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

OOMA has been the subject of several research analyst reports. Lake Street Capital boosted their price objective on Ooma from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. UBS Group set a $24.00 price target on shares of Ooma in a report on Wednesday, May 27th. Citigroup reiterated a “market perform” rating on shares of Ooma in a report on Wednesday, May 27th. B. Riley Financial restated a “buy” rating on shares of Ooma in a report on Monday, May 18th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Ooma has an average rating of “Moderate Buy” and an average price target of $22.33.

Ooma Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.