Acadian Asset Management LLC Raises Stock Holdings in Domo, Inc. (NASDAQ:DOMO)

Acadian Asset Management LLC raised its position in shares of Domo, Inc. (NASDAQ:DOMO) by 43.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 984,107 shares of the company’s stock after buying an additional 299,747 shares during the period. Acadian Asset Management LLC’s holdings in Domo were worth $8,775,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Domo by 161.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock valued at $27,000 after buying an additional 1,622 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Domo during the 1st quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Domo by 58.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock worth $61,000 after purchasing an additional 2,212 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Domo in the 4th quarter worth about $107,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Domo by 68.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,282 shares of the company’s stock valued at $119,000 after purchasing an additional 4,971 shares in the last quarter. Institutional investors own 76.64% of the company’s stock.

Domo Stock Performance

Shares of DOMO traded up $0.24 during mid-day trading on Monday, reaching $8.14. The company had a trading volume of 120,197 shares, compared to its average volume of 410,827. Domo, Inc. has a 52 week low of $6.11 and a 52 week high of $18.19. The company has a market capitalization of $310.70 million, a price-to-earnings ratio of -3.86 and a beta of 2.45. The firm has a 50-day moving average price of $7.19 and a 200 day moving average price of $8.75.

Domo (NASDAQ:DOMO) last released its earnings results on Thursday, May 23rd. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.07). The firm had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $79.57 million. As a group, research analysts forecast that Domo, Inc. will post -2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DOMO has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a report on Monday, July 1st. TD Cowen lowered their target price on Domo from $11.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, May 21st. Lake Street Capital lowered Domo from a “buy” rating to a “hold” rating and dropped their price target for the company from $15.00 to $8.00 in a research report on Friday, May 24th. DA Davidson reiterated a “neutral” rating and issued a $10.00 price objective on shares of Domo in a report on Thursday, March 28th. Finally, Morgan Stanley lowered their price objective on Domo from $13.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.20.

Insider Activity at Domo

In other news, EVP Daren Thayne sold 7,095 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $6.85, for a total transaction of $48,600.75. Following the sale, the executive vice president now owns 406,663 shares in the company, valued at $2,785,641.55. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Daren Thayne sold 7,095 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $6.85, for a total value of $48,600.75. Following the completion of the transaction, the executive vice president now owns 406,663 shares in the company, valued at $2,785,641.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel David Daniel III purchased 150,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $1,003,500.00. Following the completion of the acquisition, the director now owns 411,400 shares of the company’s stock, valued at $2,752,266. The disclosure for this purchase can be found here. 14.04% of the stock is currently owned by insiders.

Domo Company 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.