Bank of America Corp DE Decreases Position in Domo, Inc. (NASDAQ:DOMO)

Bank of America Corp DE cut its stake in Domo, Inc. (NASDAQ:DOMO) by 22.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 105,707 shares of the company’s stock after selling 29,783 shares during the period. Bank of America Corp DE’s holdings in Domo were worth $748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Domo by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company’s stock worth $36,164,000 after acquiring an additional 36,029 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Domo in the 4th quarter valued at about $173,000. Semanteon Capital Management LP acquired a new position in Domo in the 4th quarter valued at approximately $217,000. JPMorgan Chase & Co. lifted its holdings in shares of Domo by 22.7% during the 4th quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company’s stock valued at $4,553,000 after buying an additional 118,957 shares during the last quarter. Finally, Barclays PLC increased its holdings in Domo by 3.7% in the fourth quarter. Barclays PLC now owns 82,573 shares of the company’s stock worth $584,000 after buying an additional 2,962 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Insider Activity at Domo

In other news, Director Daniel David Daniel III acquired 120,000 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $6.44 per share, with a total value of $772,800.00. Following the acquisition, the director now directly owns 781,400 shares in the company, valued at $5,032,216. This represents a 18.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joshua G. James acquired 77,300 shares of the 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 transaction, the chief executive officer now directly owns 116,600 shares in the company, valued at approximately $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 owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DOMO. Wall Street Zen upgraded Domo from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Domo in a research report on Thursday, May 22nd. DA Davidson raised their target price on Domo from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald lifted their price target on shares of Domo from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Finally, Lake Street Capital reiterated a “hold” rating and set a $9.00 target price (up from $8.50) on shares of Domo in a research report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.67.

Domo Price Performance

NASDAQ:DOMO opened at $14.63 on Monday. The stock has a market capitalization of $584.32 million, a PE ratio of -6.68 and a beta of 1.84. Domo, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $14.83. The business’s 50-day simple moving average is $8.99 and its 200-day simple moving average is $8.37.

Domo (NASDAQ:DOMO) last released its quarterly earnings results on Wednesday, May 21st. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The firm had revenue of $80.11 million for the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the company earned ($0.33) EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, research analysts expect that Domo, Inc. will post -2.1 earnings per share for the current year.

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.