Ooma, Inc. (NYSE:OOMA) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its holdings in Ooma, Inc. (NYSE:OOMA) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 944,975 shares of the technology company’s stock after selling 12,162 shares during the period. Lord Abbett & CO. LLC owned about 4.02% of Ooma worth $17,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Ooma by 8.6% in the 2nd quarter. Royal Bank of Canada now owns 9,317 shares of the technology company’s stock valued at $176,000 after acquiring an additional 737 shares during the last quarter. Avalon Investment & Advisory lifted its holdings in shares of Ooma by 1.1% during the third quarter. Avalon Investment & Advisory now owns 154,119 shares of the technology company’s stock valued at $2,868,000 after purchasing an additional 1,610 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Ooma by 7.5% during the second quarter. Rhumbline Advisers now owns 26,022 shares of the technology company’s stock valued at $491,000 after purchasing an additional 1,810 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Ooma during the second quarter valued at $35,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Ooma during the first quarter valued at $28,000. Institutional investors and hedge funds own 79.30% of the company’s stock.

Shares of OOMA stock opened at $19.31 on Friday. The stock’s 50-day moving average is $20.19 and its two-hundred day moving average is $19.63. Ooma, Inc. has a fifty-two week low of $13.32 and a fifty-two week high of $24.89.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Thursday, December 2nd. The technology company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. Ooma had a negative return on equity of 2.14% and a negative net margin of 1.21%. The company had revenue of $49.20 million during the quarter, compared to the consensus estimate of $48.03 million. During the same quarter last year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts expect that Ooma, Inc. will post -0.03 earnings per share for the current fiscal year.

In other Ooma news, VP Jenny C. Yeh sold 3,817 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $22.04, for a total value of $84,126.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.90% of the stock is currently owned by company insiders.

Several brokerages have recently commented on OOMA. Zacks Investment Research downgraded Ooma from a “strong-buy” rating to a “hold” rating in a report on Friday, December 10th. Alliance Global Partners upped their target price on Ooma from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, December 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $26.90.

Ooma Company Profile

Ooma, Inc engages in the provision of platform for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications. Its products and services include Ooma business and Ooma residential.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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