Palogic Value Management L.P. Cuts Stake in Domo, Inc. (NASDAQ:DOMO)

Palogic Value Management L.P. lessened its holdings in shares of Domo, Inc. (NASDAQ:DOMO - Free Report) by 52.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,000 shares of the company's stock after selling 380,000 shares during the period. Domo comprises 0.1% of Palogic Value Management L.P.'s holdings, making the stock its 29th largest holding. Palogic Value Management L.P. owned 0.87% of Domo worth $2,407,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DOMO. RPD Fund Management LLC acquired a new stake in shares of Domo during the 4th quarter worth approximately $15,449,000. Ameriprise Financial Inc. boosted its position in shares of Domo by 9.4% during the 4th quarter. Ameriprise Financial Inc. now owns 3,287,833 shares of the company's stock worth $23,278,000 after acquiring an additional 282,943 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Domo during the 4th quarter worth approximately $1,586,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Domo during the 4th quarter worth approximately $980,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Domo by 22.7% during 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 in the last quarter. Institutional investors and hedge funds own 76.64% of the company's stock.

Insiders Place Their Bets

In related news, CEO Joshua G. James acquired 77,300 shares of the firm's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $502,450.00. Following the acquisition, the chief executive officer now owns 116,600 shares of the company's stock, valued at $757,900. This trade represents a 196.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel David Daniel III acquired 120,000 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $6.44 per share, with a total value of $772,800.00. Following the completion of the acquisition, the director now directly owns 781,400 shares in the company, valued at approximately $5,032,216. This represents a 18.14% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DOMO shares. Wall Street Zen raised shares of Domo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Cantor Fitzgerald increased their price objective on shares of Domo from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Lake Street Capital reissued a "hold" rating and issued a $9.00 price objective (up previously from $8.50) on shares of Domo in a research note on Thursday, May 22nd. JMP Securities reissued a "market outperform" rating and issued a $16.00 price objective on shares of Domo in a research note on Thursday, May 22nd. Finally, Cowen reissued a "hold" rating on shares of Domo in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.67.

Domo Stock Performance

NASDAQ:DOMO traded down $0.04 during midday trading on Friday, reaching $12.58. 912,291 shares of the stock traded hands, compared to its average volume of 376,104. The company has a fifty day moving average of $8.42 and a 200 day moving average of $8.19. Domo, Inc. has a 12 month low of $6.01 and a 12 month high of $13.28. The stock has a market capitalization of $502.45 million, a P/E ratio of -5.74 and a beta of 1.67.

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

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.