Mackenzie Financial Corp Grows Position in Domo, Inc. (NASDAQ:DOMO)

Key Points

• Mackenzie Financial Corp increased its stake in Domo, Inc. by 63.5%, now owning 124,433 shares valued at approximately $966,000.
• CEO Joshua G. James purchased 13,025 shares of Domo stock for about $165,939, increasing his total holdings to over 1 million shares.
• Domo reported earnings of ($0.09) per share, exceeding analysts' expectations and reflected a revenue of $80.11 million for the quarter.

Mackenzie Financial Corp boosted its holdings in shares of Domo, Inc. (NASDAQ:DOMO - Free Report) by 63.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,433 shares of the company's stock after acquiring an additional 48,316 shares during the quarter. Mackenzie Financial Corp owned about 0.31% of Domo worth $966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of Domo by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 17,696 shares of the company's stock valued at $125,000 after acquiring an additional 4,000 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Domo in the fourth quarter valued at approximately $127,000. Rockwood Wealth Management LLC raised its position in Domo by 55.7% in the first quarter. Rockwood Wealth Management LLC now owns 20,984 shares of the company's stock valued at $163,000 after purchasing an additional 7,508 shares during the period. Raymond James Financial Inc. acquired a new position in Domo during the fourth quarter worth $173,000. Finally, Diversify Wealth Management LLC boosted its position in shares of Domo by 13.2% during the first quarter. Diversify Wealth Management LLC now owns 23,197 shares of the company's stock worth $176,000 after buying an additional 2,705 shares during the period. Hedge funds and other institutional investors own 76.64% of the company's stock.

Domo Stock Performance

Shares of NASDAQ:DOMO traded down $0.04 during trading hours on Thursday, reaching $16.34. The stock had a trading volume of 725,005 shares, compared to its average volume of 515,762. Domo, Inc. has a 1 year low of $6.01 and a 1 year high of $16.95. The firm's 50 day moving average is $14.48 and its 200-day moving average is $10.43. The stock has a market capitalization of $657.44 million, a price-to-earnings ratio of -8.65 and a beta of 1.87.

Domo (NASDAQ:DOMO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $80.11 million during the quarter, compared to analyst estimates of $77.75 million. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Analysts forecast that Domo, Inc. will post -2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. 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 research note on Thursday, May 22nd. Cowen reiterated a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Domo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. JMP Securities lifted their price objective on shares of Domo from $16.00 to $20.00 and gave the company a "market outperform" rating in a report on Wednesday, June 25th. 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 report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Insider Transactions at Domo

In related news, CEO Joshua G. James acquired 13,025 shares of the business's stock in a transaction on Friday, June 20th. The shares were bought at an average price of $12.74 per share, with a total value of $165,938.50. Following the completion of the acquisition, the chief executive officer owned 1,079,972 shares in the company, valued at $13,758,843.28. This trade represents a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.24% of the stock is owned by company insiders.

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.