Ooma, Inc. (NYSE:OOMA) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in Ooma, Inc. (NYSE:OOMA) by 674.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 128,430 shares of the technology company’s stock after buying an additional 111,840 shares during the period. Alliancebernstein L.P.’s holdings in Ooma were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its position in Ooma by 284.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company’s stock valued at $3,557,000 after buying an additional 187,245 shares during the last quarter. Norges Bank purchased a new stake in shares of Ooma in the fourth quarter valued at about $1,067,000. EntryPoint Capital LLC acquired a new position in shares of Ooma during the fourth quarter worth about $153,000. Prudential Financial Inc. acquired a new position in shares of Ooma during the fourth quarter worth about $363,000. Finally, Perkins Capital Management Inc. lifted its position in Ooma by 13.3% in the fourth quarter. Perkins Capital Management Inc. now owns 190,409 shares of the technology company’s stock valued at $2,677,000 after purchasing an additional 22,309 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Benchmark boosted their target price on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Lake Street Capital cut their price objective on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $17.63.

Ooma Stock Performance

Shares of OOMA stock opened at $12.34 on Friday. 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 stock has a market cap of $340.45 million, a PE ratio of -33.34 and a beta of 1.06. Ooma, Inc. has a 1 year low of $6.50 and a 1 year high of $17.00. The stock has a fifty day moving average price of $13.59 and a 200 day moving average price of $13.62.

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.