Ameriprise Financial Inc. Purchases 282,943 Shares of Domo, Inc. (NASDAQ:DOMO)

Ameriprise Financial Inc. boosted its stake in shares of Domo, Inc. (NASDAQ:DOMO) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,287,833 shares of the company’s stock after purchasing an additional 282,943 shares during the quarter. Ameriprise Financial Inc. owned about 8.41% of Domo worth $23,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in DOMO. Pilgrim Partners Asia Pte Ltd bought a new stake in Domo during the fourth quarter valued at about $47,000. R Squared Ltd purchased a new stake in Domo in the fourth quarter valued at about $56,000. Riggs Capital Management LLC purchased a new stake in Domo in the fourth quarter valued at about $85,000. SG Americas Securities LLC raised its stake in Domo by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 13,987 shares of the company’s stock valued at $99,000 after buying an additional 2,247 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Domo in the fourth quarter valued at about $103,000. Institutional investors own 76.64% of the company’s stock.

Domo Stock Down 0.6%

Shares of NASDAQ:DOMO opened at $8.58 on Thursday. Domo, Inc. has a 52-week low of $6.01 and a 52-week high of $10.15. The stock has a market cap of $342.69 million, a price-to-earnings ratio of -3.92 and a beta of 1.67. The business has a 50-day moving average price of $7.88 and a 200-day moving average price of $8.02.

Domo (NASDAQ:DOMO) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The firm had revenue of $78.77 million during the quarter, compared to analysts’ expectations of $77.95 million. As a group, equities analysts anticipate that Domo, Inc. will post -2.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on DOMO shares. Lake Street Capital decreased their price target on Domo from $9.50 to $8.50 and set a “hold” rating for the company in a research note on Friday, March 7th. Morgan Stanley decreased their price target on Domo from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Domo in a research note on Thursday, March 20th. DA Davidson upgraded Domo to a “hold” rating in a research note on Monday, March 10th. Finally, Cowen reiterated a “hold” rating on shares of Domo in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.25.

Insider Activity at Domo

In related news, Director David R. Jolley sold 25,000 shares of Domo stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total transaction of $207,750.00. Following the completion of the transaction, the director now directly owns 255,743 shares in the company, valued at approximately $2,125,224.33. This trade represents a 8.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joshua G. James purchased 77,300 shares of Domo stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $6.50 per share, with a total value of $502,450.00. Following the completion of the transaction, the chief executive officer now owns 116,600 shares of the company’s stock, valued at $757,900. This represents a 196.69% increase in their position. The disclosure for this purchase can be found here. 14.04% 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.