CenterBook Partners LP Lowers Position in Domo, Inc. (NASDAQ:DOMO)

CenterBook Partners LP cut its holdings in shares of Domo, Inc. (NASDAQ:DOMO - Free Report) by 42.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,743 shares of the company's stock after selling 94,277 shares during the quarter. CenterBook Partners LP owned about 0.32% of Domo worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rockwood Wealth Management LLC lifted its holdings in shares of Domo by 55.7% in the 1st quarter. Rockwood Wealth Management LLC now owns 20,984 shares of the company's stock worth $163,000 after acquiring an additional 7,508 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Domo by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company's stock worth $36,164,000 after acquiring an additional 36,029 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Domo in the 4th quarter worth approximately $173,000. Squarepoint Ops LLC acquired a new position in shares of Domo in the 4th quarter worth approximately $127,000. Finally, Connective Capital Management LLC acquired a new position in shares of Domo in the 4th quarter worth approximately $315,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Domo Stock Up 13.4%

NASDAQ:DOMO traded up $1.93 during trading hours on Friday, reaching $16.29. 1,362,407 shares of the company's stock were exchanged, compared to its average volume of 422,681. The firm has a market capitalization of $655.51 million, a price-to-earnings ratio of -8.62 and a beta of 1.84. The company has a 50-day moving average of $12.78 and a 200 day moving average of $9.58. Domo, Inc. has a 1-year low of $6.01 and a 1-year high of $16.41.

Domo (NASDAQ:DOMO - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.10. The firm had revenue of $80.11 million during the quarter, compared to analyst estimates of $77.75 million. During the same quarter last year, the business posted ($0.33) EPS. The firm's revenue was up .0% on a year-over-year basis. Research analysts forecast that Domo, Inc. will post -2.1 EPS for the current fiscal year.

Insider Activity at Domo

In related news, CEO Joshua G. James acquired 13,025 shares of Domo stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of $12.74 per share, for a total transaction of $165,938.50. Following the completion of the purchase, the chief executive officer directly owned 1,079,972 shares of the company's stock, valued at approximately $13,758,843.28. This trade represents a 1.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Domo from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $17.00 target price on shares of Domo in a research note on Wednesday, June 25th. JMP Securities upped their target price on shares of Domo from $16.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 25th. Cowen reaffirmed a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Finally, Stephens assumed coverage on shares of Domo in a research note on Friday. They set an "overweight" rating and a $19.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.14.

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.