Trigran Investments Inc. boosted its position in Ooma, Inc. (NYSE:OOMA – Get Rating) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,814,766 shares of the technology company's stock after buying an additional 255,636 shares during the quarter. Ooma accounts for approximately 4.0% of Trigran Investments Inc.'s holdings, making the stock its 13th biggest holding. Trigran Investments Inc. owned about 0.12% of Ooma worth $34,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Ooma by 3.2% in the first quarter. Bank of America Corp DE now owns 42,837 shares of the technology company's stock worth $641,000 after acquiring an additional 1,325 shares in the last quarter. Rhumbline Advisers raised its position in shares of Ooma by 5.7% in the 2nd quarter. Rhumbline Advisers now owns 26,396 shares of the technology company's stock valued at $313,000 after purchasing an additional 1,428 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Ooma by 43.6% during the 2nd quarter. Lazard Asset Management LLC now owns 6,375 shares of the technology company's stock valued at $75,000 after buying an additional 1,936 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Ooma by 404.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,471 shares of the technology company's stock worth $37,000 after buying an additional 1,981 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Ooma by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 112,250 shares of the technology company's stock worth $1,682,000 after buying an additional 2,625 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Benchmark raised their price objective on shares of Ooma to $24.00 in a report on Friday, December 2nd. StockNews.com upgraded Ooma from a "buy" rating to a "strong-buy" rating in a research note on Friday, December 9th.

Ooma Stock Performance

Ooma (NYSE:OOMA – Get Rating) last posted its earnings results on Wednesday, November 30th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Ooma had a negative return on equity of 1.55% and a negative net margin of 1.59%. The firm had revenue of $56.68 million for the quarter, compared to analysts' expectations of $56.20 million. Equities research analysts expect that Ooma, Inc. will post -0.04 earnings per share for the current fiscal year.

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.

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