Connective Capital Management LLC Acquires Shares of 44,487 Domo, Inc. (NASDAQ:DOMO)

Connective Capital Management LLC acquired a new stake in Domo, Inc. (NASDAQ:DOMO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 44,487 shares of the company's stock, valued at approximately $315,000. Connective Capital Management LLC owned 0.11% of Domo at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DOMO. Vanguard Group Inc. increased its position in Domo by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock worth $36,164,000 after buying an additional 36,029 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Domo by 9.4% during the 4th quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock valued at $23,278,000 after purchasing an additional 282,943 shares during the last quarter. RPD Fund Management LLC bought a new position in Domo during the fourth quarter worth $15,449,000. Geode Capital Management LLC increased its holdings in shares of Domo by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 770,810 shares of the company's stock valued at $5,458,000 after purchasing an additional 11,457 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Domo by 22.7% in the fourth quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company's stock valued at $4,553,000 after purchasing an additional 118,957 shares during the period. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Daniel David Daniel III purchased 120,000 shares of Domo stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $6.44 per share, for a total transaction of $772,800.00. Following the completion of the acquisition, the director now owns 781,400 shares of the company's stock, valued at $5,032,216. This trade represents a 18.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joshua G. James purchased 77,300 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $6.50 per share, with a total value of $502,450.00. Following the completion of the purchase, the chief executive officer now owns 116,600 shares of the company's stock, valued at approximately $757,900. This represents a 196.69% increase in their position. The disclosure for this purchase can be found here. Insiders own 14.04% of the company's stock.

Domo Stock Performance

Shares of Domo stock traded up $0.50 on Friday, reaching $11.35. 1,530,272 shares of the stock were exchanged, compared to its average volume of 376,901. The firm has a market cap of $453.32 million, a PE ratio of -5.18 and a beta of 1.67. The firm's 50 day moving average is $8.03 and its 200-day moving average is $8.08. Domo, Inc. has a one year low of $6.01 and a one year high of $11.68.

Domo (NASDAQ:DOMO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.10. The business had revenue of $80.11 million during the quarter, compared to the consensus estimate of $77.75 million. The company's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) EPS. On average, equities research analysts expect that Domo, Inc. will post -2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cowen restated a "hold" rating on shares of Domo in a research report on Thursday. Wall Street Zen raised Domo from a "hold" rating to a "buy" rating in a report on Saturday. Lake Street Capital reissued a "hold" rating and set a $9.00 target price (up previously from $8.50) on shares of Domo in a report on Thursday. Morgan Stanley decreased their price target on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $16.00 price objective on shares of Domo in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.67.

About Domo

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.