Perkins Capital Management Inc. Boosts Holdings in Ooma, Inc. (NYSE:OOMA)

Perkins Capital Management Inc. grew its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 13.3% during the 4th quarter, HoldingsChannel reports. The fund owned 190,409 shares of the technology company’s stock after acquiring an additional 22,309 shares during the quarter. Ooma makes up 2.4% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. Perkins Capital Management Inc.’s holdings in Ooma were worth $2,677,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Ooma in the fourth quarter worth $92,000. Virtus Investment Advisers Inc. purchased a new position in shares of Ooma in the third quarter worth $98,000. Paloma Partners Management Co purchased a new position in shares of Ooma in the third quarter worth $126,000. PDT Partners LLC purchased a new position in shares of Ooma in the third quarter worth $170,000. Finally, SG Americas Securities LLC increased its stake in shares of Ooma by 26.4% in the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock worth $180,000 after buying an additional 2,663 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OOMA shares. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Benchmark boosted their price objective on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Lake Street Capital reduced their price objective on shares of Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Northland Securities boosted their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, B. Riley boosted their price objective on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.63.

Ooma Stock Performance

Shares of OOMA stock opened at $13.30 on Monday. Ooma, Inc. has a 12 month low of $6.50 and a 12 month high of $17.00. The stock has a market cap of $359.02 million, a PE ratio of -35.94 and a beta of 0.99. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $14.30 and its 200-day moving average price is $13.45.

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.