Voya Investment Management LLC Reduces Stock Position in Ooma, Inc. (NYSE:OOMA)

Voya Investment Management LLC lessened its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 4.8% during the fourth quarter, Holdings Channel reports. The firm owned 28,604 shares of the technology company’s stock after selling 1,456 shares during the quarter. Voya Investment Management LLC’s holdings in Ooma were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OOMA. Quantbot Technologies LP purchased a new position in shares of Ooma during the fourth quarter valued at approximately $92,000. EntryPoint Capital LLC purchased a new position in Ooma during the 4th quarter valued at $153,000. SG Americas Securities LLC raised its holdings in Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock worth $180,000 after purchasing an additional 2,663 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Ooma in the 4th quarter worth about $189,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Ooma by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company’s stock valued at $215,000 after purchasing an additional 3,466 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.

Ooma Stock Performance

Shares of OOMA opened at $12.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $357.47 million, a P/E ratio of -35.05 and a beta of 1.21. The business’s 50 day moving average price is $12.79 and its 200-day moving average price is $13.70. Ooma, Inc. has a 52 week low of $7.16 and a 52 week high of $17.00.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Lake Street Capital lowered their price objective on shares of Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Benchmark upped their price target on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. One research 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 stock. According to MarketBeat.com, Ooma has a consensus rating of “Buy” and an average price target of $17.63.

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.