Invenomic Capital Management LP Sells 35,580 Shares of Domo, Inc. (NASDAQ:DOMO)

Invenomic Capital Management LP cut its holdings in shares of Domo, Inc. (NASDAQ:DOMO - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,475 shares of the company's stock after selling 35,580 shares during the period. Invenomic Capital Management LP owned about 0.56% of Domo worth $1,561,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. boosted its position in Domo by 14.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 284,202 shares of the company's stock worth $2,012,000 after buying an additional 36,741 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 worth $23,278,000 after buying an additional 282,943 shares during the period. Northern Trust Corp boosted its position in Domo by 5.8% during the 4th quarter. Northern Trust Corp now owns 327,599 shares of the company's stock worth $2,319,000 after buying an additional 17,962 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Domo by 21.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,104 shares of the company's stock worth $398,000 after buying an additional 10,039 shares during the period. Finally, XTX Topco Ltd boosted its position in Domo by 163.0% during the 4th quarter. XTX Topco Ltd now owns 33,843 shares of the company's stock worth $240,000 after buying an additional 20,977 shares during the period. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley cut their target price on shares of Domo from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and set a $11.00 price target on shares of Domo in a report on Thursday, March 20th. Cowen restated a "hold" rating on shares of Domo in a report on Friday, March 7th. Lake Street Capital lowered their price target on shares of Domo from $9.50 to $8.50 and set a "hold" rating for the company in a report on Friday, March 7th. Finally, DA Davidson upgraded shares of Domo to a "hold" rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Domo presently has an average rating of "Hold" and a consensus price target of $10.25.

Insider Activity

In other Domo news, Director David R. Jolley sold 25,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total value of $207,750.00. Following the completion of the transaction, the director now owns 255,743 shares in the company, valued at $2,125,224.33. This represents a 8.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel David Daniel III bought 120,000 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $6.44 per share, with a total value of $772,800.00. Following the completion of the transaction, the director now owns 781,400 shares in the company, valued at approximately $5,032,216. The trade was a 18.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.04% of the stock is currently owned by company insiders.

Domo Price Performance

Shares of NASDAQ:DOMO traded up $0.16 during mid-day trading on Thursday, hitting $8.74. The company had a trading volume of 217,547 shares, compared to its average volume of 358,165. The firm has a fifty day moving average price of $7.88 and a 200 day moving average price of $8.02. The company has a market capitalization of $349.08 million, a PE ratio of -3.99 and a beta of 1.67. Domo, Inc. has a one year low of $6.01 and a one year high of $10.15.

Domo (NASDAQ:DOMO - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The firm had revenue of $78.77 million for the quarter, compared to the consensus estimate of $77.95 million. Research analysts expect that Domo, Inc. will post -2.1 earnings per share for the current fiscal year.

Domo Company 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.