BNP Paribas Arbitrage SA Grows Holdings in Ooma Inc (NYSE:OOMA)

BNP Paribas Arbitrage SA grew its stake in shares of Ooma Inc (NYSE:OOMA) by 99,100.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,968 shares of the technology company’s stock after buying an additional 3,964 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Ooma were worth $53,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Ooma by 121.1% during the fourth quarter. Barclays PLC now owns 15,580 shares of the technology company’s stock valued at $216,000 after purchasing an additional 8,535 shares during the last quarter. Alambic Investment Management L.P. lifted its holdings in shares of Ooma by 24.2% during the fourth quarter. Alambic Investment Management L.P. now owns 89,362 shares of the technology company’s stock valued at $1,240,000 after purchasing an additional 17,429 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ooma by 19.4% during the third quarter. JPMorgan Chase & Co. now owns 275,444 shares of the technology company’s stock valued at $4,573,000 after purchasing an additional 44,662 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Ooma by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock worth $88,000 after acquiring an additional 4,960 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Ooma by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 794,173 shares of the technology company’s stock worth $13,184,000 after acquiring an additional 10,313 shares during the last quarter. 75.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on OOMA. Zacks Investment Research upgraded shares of Ooma from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. ValuEngine lowered shares of Ooma from a “buy” rating to a “hold” rating in a research note on Saturday, June 22nd. Finally, Northland Securities reissued a “buy” rating and set a $18.00 price objective on shares of Ooma in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.70.

Ooma stock traded up $0.11 during midday trading on Monday, reaching $10.59. The stock had a trading volume of 74,600 shares, compared to its average volume of 64,276. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.30. Ooma Inc has a 52-week low of $9.85 and a 52-week high of $17.50. The company has a market capitalization of $216.94 million, a price-to-earnings ratio of -15.35 and a beta of 0.87. The stock has a fifty day simple moving average of $12.20.

Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, May 21st. The technology company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. The business had revenue of $34.01 million for the quarter, compared to the consensus estimate of $33.64 million. Ooma had a negative net margin of 11.75% and a negative return on equity of 42.73%. On average, equities analysts forecast that Ooma Inc will post -0.82 EPS for the current fiscal year.

In other Ooma news, VP James A. Gustke sold 2,267 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $11.46, for a total value of $25,979.82. Following the completion of the transaction, the vice president now owns 125,478 shares of the company’s stock, valued at $1,437,977.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ravi Narula sold 5,611 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $11.46, for a total transaction of $64,302.06. Following the completion of the transaction, the chief financial officer now directly owns 195,357 shares of the company’s stock, valued at approximately $2,238,791.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,701 shares of company stock worth $417,623. Insiders own 10.19% of the company’s stock.

About Ooma

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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