Woodline Partners LP Sells 73,900 Shares of Domo, Inc. (NASDAQ:DOMO)

Woodline Partners LP reduced its stake in shares of Domo, Inc. (NASDAQ:DOMO - Free Report) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 595,684 shares of the company's stock after selling 73,900 shares during the quarter. Woodline Partners LP owned about 1.52% of Domo worth $4,217,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DOMO. RPD Fund Management LLC bought a new stake in Domo during the fourth quarter worth approximately $15,449,000. Ameriprise Financial Inc. increased 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 acquiring an additional 282,943 shares during the last quarter. CenterBook Partners LP bought a new stake in Domo during the fourth quarter worth approximately $1,586,000. Arrowstreet Capital Limited Partnership bought a new stake in Domo during the fourth quarter worth approximately $980,000. Finally, JPMorgan Chase & Co. increased its stake in Domo by 22.7% during the fourth 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. 76.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DOMO. Cantor Fitzgerald boosted their price objective on Domo from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Wall Street Zen raised Domo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Lake Street Capital reaffirmed 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. Morgan Stanley reduced their price target on Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $16.00 price target on shares of Domo in a report 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's stock. According to MarketBeat, Domo currently has a consensus rating of "Hold" and an average price target of $10.67.

Insiders Place Their Bets

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

Domo Trading Down 0.4%

Shares of NASDAQ DOMO traded down $0.05 during midday trading on Friday, hitting $12.57. The company's stock had a trading volume of 158,403 shares, compared to its average volume of 377,757. The business's 50 day moving average is $8.34 and its two-hundred day moving average is $8.18. Domo, Inc. has a 12-month low of $6.01 and a 12-month high of $13.28. The firm has a market cap of $502.05 million, a P/E ratio of -5.75 and a beta of 1.67.

Domo (NASDAQ:DOMO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) earnings per share 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 analysts' expectations of $77.75 million. During the same quarter in the previous year, the company posted ($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 earnings per share 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.