AWM Investment Company Inc. Buys Shares of 1,113,078 Ooma, Inc. (OOMA)

AWM Investment Company Inc. acquired a new position in Ooma, Inc. (NYSE:OOMA) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,113,078 shares of the technology company’s stock, valued at approximately $11,075,000. Ooma makes up approximately 2.1% of AWM Investment Company Inc.’s portfolio, making the stock its 15th largest position. AWM Investment Company Inc. owned 6.10% of Ooma as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morgan Stanley boosted its position in Ooma by 345.8% in the first quarter. Morgan Stanley now owns 108,751 shares of the technology company’s stock valued at $1,082,000 after buying an additional 84,354 shares during the last quarter. Emancipation Management LLC purchased a new position in shares of Ooma during the first quarter valued at $1,864,000. Geode Capital Management LLC boosted its position in shares of Ooma by 118.5% in the first quarter. Geode Capital Management LLC now owns 105,441 shares of the technology company’s stock valued at $1,049,000 after buying an additional 57,184 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ooma by 70.7% in the first quarter. Vanguard Group Inc. now owns 456,834 shares of the technology company’s stock valued at $4,546,000 after buying an additional 189,140 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in shares of Ooma during the first quarter valued at $122,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.

Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

Shares of Ooma, Inc. (NYSE OOMA) traded up 1.84% during trading on Monday, reaching $8.30. The company’s stock had a trading volume of 245,323 shares. Ooma, Inc. has a 52-week low of $7.67 and a 52-week high of $12.30. The company’s market cap is $151.67 million. The firm’s 50-day moving average is $10.15 and its 200 day moving average is $9.90.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. Ooma had a negative return on equity of 29.82% and a negative net margin of 11.51%. The firm had revenue of $27.58 million during the quarter, compared to the consensus estimate of $28.14 million. During the same period last year, the business posted ($0.08) EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Ooma, Inc. will post ($0.11) EPS for the current fiscal year.

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Several brokerages have recently commented on OOMA. B. Riley reaffirmed a “buy” rating and set a $13.00 target price on shares of Ooma in a report on Sunday, May 28th. William Blair lowered Ooma from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 24th. ValuEngine lowered Ooma from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Bank of America Corporation lowered Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. Finally, Credit Suisse Group lowered Ooma from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $12.00 in a report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.75.

In other news, major shareholder Equity I. L.L.C. Worldview sold 144,027 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $9.77, for a total value of $1,407,143.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.42% of the company’s stock.

Ooma Company Profile

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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