Domo, Inc. (NASDAQ:DOMO) Shares Sold by Palogic Value Management L.P.

Palogic Value Management L.P. lessened its holdings in shares of Domo, Inc. (NASDAQ:DOMO - Free Report) by 19.6% 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 83,000 shares during the period. Domo comprises 0.9% of Palogic Value Management L.P.'s holdings, making the stock its 27th 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 hedge funds and other institutional investors also recently made changes to their positions in DOMO. Intech Investment Management LLC acquired a new stake in Domo in the fourth quarter valued at $103,000. Raymond James Financial Inc. bought a new position in Domo in the 4th quarter valued at about $173,000. Bank of New York Mellon Corp increased its position in shares of Domo by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 87,789 shares of the company's stock valued at $622,000 after acquiring an additional 1,826 shares during the last quarter. Stoneridge Investment Partners LLC raised its holdings in shares of Domo by 73.3% in the 4th quarter. Stoneridge Investment Partners LLC now owns 32,570 shares of the company's stock worth $231,000 after purchasing an additional 13,777 shares during the period. Finally, R Squared Ltd purchased a new stake in Domo during the fourth quarter valued at about $56,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on DOMO shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $11.00 target price on shares of Domo in a research report on Thursday, March 20th. JMP Securities reiterated a "market outperform" rating and issued a $16.00 target price on shares of Domo in a research report on Friday, December 6th. Morgan Stanley raised their price target on Domo from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, March 13th. Cowen reiterated a "hold" rating on shares of Domo in a report on Friday, March 7th. Finally, DA Davidson raised shares of Domo to a "hold" rating in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Domo has a consensus rating of "Hold" and a consensus target price of $10.42.

Remove Ads

Domo Price Performance

Shares of NASDAQ:DOMO traded down $0.16 during trading on Tuesday, reaching $8.81. 344,129 shares of the company were exchanged, compared to its average volume of 354,508. The business's fifty day simple moving average is $8.13 and its 200-day simple moving average is $7.92. Domo, Inc. has a 12-month low of $6.11 and a 12-month high of $10.15. The firm has a market capitalization of $344.54 million, a PE ratio of -4.02 and a beta of 2.56.

Domo (NASDAQ:DOMO - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $77.95 million. On average, sell-side analysts anticipate that Domo, Inc. will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David R. Jolley sold 25,000 shares of the business's 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 sale, the director now owns 255,743 shares in the company, valued at $2,125,224.33. The trade was a 8.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.04% of the company's stock.

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.