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

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

A number of other large investors have also bought and sold shares of DOMO. Vanguard Group Inc. boosted its stake in shares of Domo by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock valued at $36,164,000 after purchasing an additional 36,029 shares during the period. Ameriprise Financial Inc. boosted its position 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 buying an additional 282,943 shares during the period. Geode Capital Management LLC boosted its position in Domo by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 770,810 shares of the company's stock valued at $5,458,000 after buying an additional 11,457 shares during the period. JPMorgan Chase & Co. grew its holdings in Domo by 22.7% in the 4th quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company's stock worth $4,553,000 after acquiring an additional 118,957 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Domo by 5.8% in the fourth quarter. Northern Trust Corp now owns 327,599 shares of the company's stock valued at $2,319,000 after acquiring an additional 17,962 shares during the period. 76.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOMO has been the subject of a number of analyst reports. Morgan Stanley dropped their target price on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald upped their price target on Domo from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Lake Street Capital reiterated a "hold" rating and issued a $9.00 price objective (up from $8.50) on shares of Domo in a research report on Thursday, May 22nd. Wall Street Zen upgraded Domo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price target on shares of Domo in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.67.

Domo Trading Up 0.9%

DOMO traded up $0.12 during trading on Thursday, reaching $13.69. The stock had a trading volume of 527,633 shares, compared to its average volume of 393,012. The company has a market capitalization of $546.78 million, a price-to-earnings ratio of -6.25 and a beta of 1.84. The stock's 50 day moving average is $9.39 and its two-hundred day moving average is $8.48. Domo, Inc. has a one year low of $6.01 and a one year high of $14.83.

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, topping 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. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The firm's revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Domo, Inc. will post -2.1 earnings per share for the current year.

Insider Activity

In related news, Director Daniel David Daniel III purchased 120,000 shares of Domo stock in a transaction dated Friday, April 4th. The stock was purchased 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 directly owns 781,400 shares of the company's stock, valued at $5,032,216. The trade was a 18.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joshua G. James purchased 77,300 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 116,600 shares in the company, valued at $757,900. The trade was a 196.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 15.24% of the company's stock.

Domo Profile

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.