Bank of America Corp DE Cuts Stock Position in Domo, Inc. (NASDAQ:DOMO)

Bank of America Corp DE lessened its holdings in Domo, Inc. (NASDAQ:DOMO - Free Report) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,707 shares of the company's stock after selling 29,783 shares during the period. Bank of America Corp DE owned approximately 0.27% of Domo worth $748,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DOMO. Ameriprise Financial Inc. boosted its stake in Domo by 9.4% during the fourth quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock worth $23,278,000 after buying an additional 282,943 shares during the period. Northern Trust Corp lifted its holdings in shares of Domo by 5.8% in the 4th quarter. Northern Trust Corp now owns 327,599 shares of the company's stock worth $2,319,000 after acquiring an additional 17,962 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Domo by 21.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,104 shares of the company's stock worth $398,000 after purchasing an additional 10,039 shares during the period. XTX Topco Ltd grew its holdings in Domo by 163.0% during the 4th quarter. XTX Topco Ltd now owns 33,843 shares of the company's stock valued at $240,000 after purchasing an additional 20,977 shares during the last quarter. Finally, Barclays PLC grew its holdings in Domo by 3.7% during the 4th quarter. Barclays PLC now owns 82,573 shares of the company's stock valued at $584,000 after purchasing an additional 2,962 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company's stock.

Insider Buying and Selling at Domo

In other Domo news, Director David R. Jolley sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $8.31, for a total value of $207,750.00. Following the completion of the transaction, the director now owns 255,743 shares of the company's stock, valued at $2,125,224.33. This trade represents a 8.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joshua G. James bought 77,300 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $502,450.00. Following the completion of the purchase, the chief executive officer now directly owns 116,600 shares of the company's stock, valued at approximately $757,900. This trade represents a 196.69% increase in their position. The disclosure for this purchase can be found here. 15.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on DOMO. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of Domo in a research report on Thursday, May 22nd. Lake Street Capital reaffirmed a "hold" rating and issued a $9.00 price target (up previously from $8.50) on shares of Domo in a research note on Thursday, May 22nd. DA Davidson lifted their price objective on shares of Domo from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Cantor Fitzgerald upped their target price on shares of Domo from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley reduced their target price on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.67.

Domo Price Performance

Shares of NASDAQ:DOMO opened at $14.63 on Monday. The business's 50 day moving average price is $8.99 and its 200-day moving average price is $8.37. Domo, Inc. has a 1 year low of $6.01 and a 1 year high of $14.83. The firm has a market capitalization of $584.32 million, a price-to-earnings ratio of -6.68 and a beta of 1.84.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.10. The firm had revenue of $80.11 million during the quarter, compared to analysts' expectations 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, sell-side analysts expect that Domo, Inc. will post -2.1 earnings per share for the current year.

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.

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