State Board of Administration of Florida Retirement System Sells 1,770 Shares of Ooma, Inc. (NYSE:OOMA)

State Board of Administration of Florida Retirement System cut its holdings in shares of Ooma, Inc. (NYSE:OOMA – Get Rating) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,237 shares of the technology company’s stock after selling 1,770 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.06% of Ooma worth $208,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Ooma by 286.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,387 shares of the technology company’s stock worth $210,000 after purchasing an additional 11,409 shares during the period. Legato Capital Management LLC bought a new position in Ooma in the fourth quarter valued at approximately $455,000. National Bank of Canada FI bought a new position in Ooma in the fourth quarter valued at approximately $27,000. Castleview Partners LLC bought a new position in Ooma in the fourth quarter valued at approximately $61,000. Finally, Merrion Investment Management Co LLC bought a new position in Ooma in the fourth quarter valued at approximately $171,000. 80.09% of the stock is owned by institutional investors.

Ooma Stock Performance

NYSE OOMA opened at $13.42 on Tuesday. The firm’s fifty day moving average price is $12.58 and its two-hundred day moving average price is $13.62. The stock has a market cap of $339.79 million, a PE ratio of -89.47 and a beta of 0.85. Ooma, Inc. has a fifty-two week low of $10.82 and a fifty-two week high of $16.76.

Ooma (NYSE:OOMA – Get Rating) last posted its earnings results on Thursday, March 2nd. The technology company reported $0.02 earnings per share for the quarter. The firm had revenue of $56.50 million for the quarter, compared to analysts’ expectations of $56.40 million. Ooma had a negative net margin of 1.69% and a negative return on equity of 0.95%. As a group, sell-side analysts predict that Ooma, Inc. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OOMA has been the topic of a number of recent analyst reports. JMP Securities decreased their price objective on shares of Ooma from $20.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, March 3rd. StockNews.com initiated coverage on shares of Ooma in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, Alliance Global Partners decreased their price objective on shares of Ooma from $21.00 to $20.00 in a research note on Friday, March 3rd.

Ooma Profile

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Ooma, Inc engages in the provision of platforms 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.