The Argent Capital Management LLC Acquires Shares of 293,450 Ooma Inc (OOMA)

The Argent Capital Management LLC Acquires Shares of 293,450 Ooma Inc (OOMA)

Other hedge funds have also recently bought and sold shares of the company. Boston Partners raised its stake in Ooma by 45.3% in the first quarter. Boston Partners now owns 753,800 shares of the technology company’s stock worth $7,500,000 after buying an additional 234,994 shares in the last quarter. Falcon Point Capital LLC purchased a new stake in Ooma during the first quarter worth $1,434,000. Russell Investments Group Ltd. increased its position in Ooma by 215.1% in the first quarter. Russell Investments Group Ltd. now owns 424,805 shares of the technology company’s stock worth $4,228,000 after buying an additional 289,990 shares during the last quarter. Granite Investment Partners LLC bought a new position in Ooma during the first quarter worth about $1,697,000. Finally, Perkins Capital Management Inc. increased its position in Ooma by 8.7% in the first quarter. Perkins Capital Management Inc. now owns 120,100 shares of the technology company’s stock worth $1,195,000 after buying an additional 9,650 shares during the last quarter. Institutional investors own 26.30% of the company’s stock.

Argent Capital Management LLC bought a new position in Ooma Inc (NYSE:OOMA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 293,450 shares of the technology company’s stock, valued at approximately $2,920,000. Argent Capital Management LLC owned approximately 1.61% of Ooma at the end of the most recent quarter.

Shares of Ooma Inc (NYSE:OOMA) traded down 2.35% during midday trading on Friday, hitting $8.30. 199,272 shares of the company traded hands. The stock’s market capitalization is $150.46 million. The company has a 50-day moving average price of $11.19 and a 200-day moving average price of $9.96. Ooma Inc has a 52 week low of $7.67 and a 52 week high of $12.30.

Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Ooma had a negative net margin of 13.13% and a negative return on equity of 32.06%. The firm had revenue of $27.58 million during the quarter, compared to analysts’ expectations of $28.14 million. During the same period last year, the business earned ($0.08) earnings per share. Ooma’s revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Ooma Inc will post ($0.11) earnings per share for the current fiscal year. A number of equities analysts recently issued reports on OOMA shares. B. Riley reissued a “buy” rating and issued a $13.00 price target on shares of Ooma in a research note on Sunday, May 28th. Credit Suisse Group AG downgraded shares of Ooma from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $12.00 in a research note on Wednesday, May 24th. Bank of America Corp downgraded shares of Ooma from a “buy” rating to an “underperform” rating in a research note on Wednesday, May 24th. ValuEngine downgraded shares of Ooma from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Finally, William Blair downgraded shares of Ooma from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Ooma presently has an average rating of “Hold” and an average price target of $12.75.

In other Ooma news, VP James A. Gustke sold 6,000 shares of Ooma stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $9.78, for a total transaction of $58,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Equity I. L.L.C. Worldview sold 144,027 shares of Ooma stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $9.77, for a total transaction of $1,407,143.79. The disclosure for this sale can be found here. 48.19% of the stock is currently owned by company insiders. Ooma Company Profile

Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OOMA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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