Insider Selling: Domo (NASDAQ:DOMO) CEO Sells $228,689.44 in Stock

Domo, Inc. (NASDAQ:DOMO) CEO Joshua James sold 96,088 shares of Domo stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total transaction of $228,689.44. Following the transaction, the chief executive officer owned 1,638,873 shares in the company, valued at approximately $3,900,517.74. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Domo Stock Up 20.5%

Shares of Domo stock opened at $2.94 on Friday. The company has a market capitalization of $132.74 million, a price-to-earnings ratio of -2.21 and a beta of 1.78. The stock’s 50-day simple moving average is $3.44 and its 200-day simple moving average is $4.82. Domo, Inc. has a 52 week low of $1.84 and a 52 week high of $18.49.

Domo (NASDAQ:DOMO) last released its earnings results on Monday, June 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $79.40 million for the quarter, compared to analysts’ expectations of $79.64 million. During the same quarter in the prior year, the business posted ($0.69) EPS. On average, equities analysts expect that Domo, Inc. will post -1.42 earnings per share for the current year.

Analyst Ratings Changes

DOMO has been the topic of a number of recent analyst reports. Lake Street Capital reduced their target price on Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, March 11th. Stephens reaffirmed an “overweight” rating on shares of Domo in a research note on Tuesday, June 16th. TD Cowen lowered shares of Domo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $6.00 to $3.25 in a report on Tuesday, June 16th. DA Davidson reiterated a “neutral” rating and issued a $3.50 price target on shares of Domo in a report on Tuesday, June 16th. Finally, UBS Group reissued a “neutral” rating on shares of Domo in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $4.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brevan Howard Capital Management LP lifted its position in shares of Domo by 3.9% in the third quarter. Brevan Howard Capital Management LP now owns 50,740 shares of the company’s stock valued at $804,000 after acquiring an additional 1,924 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Domo by 8.1% during the 4th quarter. Verition Fund Management LLC now owns 35,876 shares of the company’s stock worth $302,000 after purchasing an additional 2,679 shares during the period. Creative Planning boosted its position in shares of Domo by 23.2% during the 2nd quarter. Creative Planning now owns 15,362 shares of the company’s stock worth $215,000 after purchasing an additional 2,889 shares during the period. Headlands Technologies LLC purchased a new position in Domo during the 2nd quarter valued at about $42,000. Finally, Global Wealth Strategies & Associates acquired a new position in Domo in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.