Palogic Value Management L.P. Sells 83,000 Shares of Domo, Inc. (NASDAQ:DOMO)

Palogic Value Management L.P. lowered its holdings in Domo, Inc. (NASDAQ:DOMO) by 19.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 340,000 shares of the company’s stock after selling 83,000 shares during the quarter. Domo accounts for about 0.9% of Palogic Value Management L.P.’s holdings, making the stock its 28th biggest position. Palogic Value Management L.P.’s holdings in Domo were worth $2,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOMO. Geode Capital Management LLC grew its holdings in shares of Domo by 0.5% during the third quarter. Geode Capital Management LLC now owns 759,353 shares of the company’s stock valued at $5,704,000 after buying an additional 4,091 shares during the last quarter. XTX Topco Ltd bought a new stake in Domo during the 3rd quarter worth approximately $97,000. FMR LLC raised its stake in shares of Domo by 20.6% in the third quarter. FMR LLC now owns 301,457 shares of the company’s stock worth $2,264,000 after purchasing an additional 51,494 shares during the last quarter. Barclays PLC raised its stake in shares of Domo by 56.8% in the third quarter. Barclays PLC now owns 79,611 shares of the company’s stock worth $598,000 after purchasing an additional 28,838 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Domo by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 524,105 shares of the company’s stock valued at $3,936,000 after buying an additional 12,494 shares during the last quarter. Institutional investors own 76.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DOMO shares. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Domo in a research report on Friday, December 6th. Lake Street Capital dropped their price target on shares of Domo from $9.50 to $8.50 and set a “hold” rating on the stock in a research report on Friday, March 7th. Cowen reaffirmed a “hold” rating on shares of Domo in a research report on Friday, March 7th. Morgan Stanley lifted their target price on shares of Domo from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. Finally, DA Davidson raised Domo to a “hold” rating in a research report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.42.

Insider Activity

In other Domo news, Director David R. Jolley sold 25,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $8.31, for a total transaction of $207,750.00. Following the sale, the director now owns 255,743 shares of the company’s stock, valued at $2,125,224.33. The trade was a 8.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 14.04% of the company’s stock.

Domo Trading Down 3.6 %

Shares of NASDAQ DOMO opened at $7.96 on Friday. The stock has a fifty day simple moving average of $8.25 and a two-hundred day simple moving average of $7.95. Domo, Inc. has a 1-year low of $6.11 and a 1-year high of $10.15. The firm has a market cap of $311.30 million, a price-to-earnings ratio of -3.63 and a beta of 2.56.

Domo (NASDAQ:DOMO) last announced 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 company had revenue of $78.77 million during the quarter, compared to the consensus estimate of $77.95 million. Analysts forecast that Domo, Inc. will post -2.1 EPS for the current year.

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.