Clearline Capital LP Sells 22,113 Shares of Domo, Inc. (NASDAQ:DOMO)

Clearline Capital LP trimmed its holdings in Domo, Inc. (NASDAQ:DOMO) by 4.8% in the third quarter, Holdings Channel reports. The institutional investor owned 441,406 shares of the company’s stock after selling 22,113 shares during the period. Clearline Capital LP’s holdings in Domo were worth $3,315,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Domo by 5.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 40,991 shares of the company’s stock valued at $308,000 after buying an additional 2,091 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Domo by 51.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock valued at $48,000 after purchasing an additional 2,100 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Domo by 7.5% during the 2nd quarter. Sei Investments Co. now owns 103,809 shares of the company’s stock valued at $801,000 after purchasing an additional 7,222 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Domo by 291.9% in the 3rd quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock valued at $103,000 after acquiring an additional 10,204 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Domo by 45.4% in the second quarter. Hsbc Holdings PLC now owns 37,385 shares of the company’s stock valued at $289,000 after purchasing an additional 11,674 shares during the last quarter. Institutional investors own 76.64% of the company’s stock.

Domo Stock Up 0.9 %

Shares of NASDAQ:DOMO opened at $9.36 on Monday. The company has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $7.67. Domo, Inc. has a twelve month low of $6.11 and a twelve month high of $12.23. The firm has a market capitalization of $361.58 million, a PE ratio of -4.33 and a beta of 2.43.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.21. The company had revenue of $78.41 million for the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the prior year, the company earned ($0.44) earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Domo, Inc. will post -2.31 earnings per share for the current fiscal year.

Insider Activity at Domo

In other news, CFO David R. Jolley bought 10,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $6.99 per share, for a total transaction of $69,900.00. Following the completion of the acquisition, the chief financial officer now owns 291,465 shares in the company, valued at approximately $2,037,340.35. This trade represents a 3.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 14.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DOMO shares. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Domo in a research report on Friday, August 30th. DA Davidson boosted their price objective on Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, TD Cowen increased their target price on shares of Domo from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Domo presently has a consensus rating of “Hold” and an average price target of $9.80.

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.