Short Interest in Domo, Inc. (NASDAQ:DOMO) Decreases By 11.5%

Domo, Inc. (NASDAQ:DOMO) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 2,160,000 shares, a drop of 11.5% from the July 15th total of 2,440,000 shares. Based on an average daily volume of 406,800 shares, the short-interest ratio is presently 5.3 days. Currently, 7.0% of the company’s stock are short sold.

Insider Buying and Selling at Domo

In other Domo news, Director Daniel David Daniel III bought 150,000 shares of the business’s stock in a transaction on 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 purchase, the director now owns 411,400 shares in the company, valued at approximately $2,752,266. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Daren Thayne sold 7,095 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $6.85, for a total transaction of $48,600.75. Following the transaction, the executive vice president now directly owns 406,663 shares of the company’s stock, valued at approximately $2,785,641.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel David Daniel III purchased 150,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were purchased 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 directly owns 411,400 shares in the company, valued at $2,752,266. The disclosure for this purchase can be found here. Company insiders own 14.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DOMO. 272 Capital LP grew its position in Domo by 52.1% in the second quarter. 272 Capital LP now owns 416,464 shares of the company’s stock worth $3,215,000 after acquiring an additional 142,609 shares in the last quarter. Sei Investments Co. grew its position in Domo by 7.5% in the second quarter. Sei Investments Co. now owns 103,809 shares of the company’s stock worth $801,000 after acquiring an additional 7,222 shares in the last quarter. Hsbc Holdings PLC grew its position in Domo by 45.4% in the second quarter. Hsbc Holdings PLC now owns 37,385 shares of the company’s stock worth $289,000 after acquiring an additional 11,674 shares in the last quarter. Acadian Asset Management LLC grew its position in Domo by 32.3% in the second quarter. Acadian Asset Management LLC now owns 1,301,495 shares of the company’s stock worth $10,042,000 after acquiring an additional 317,388 shares in the last quarter. Finally, Ceera Investments LLC grew its position in Domo by 27.5% in the second quarter. Ceera Investments LLC now owns 212,910 shares of the company’s stock worth $1,644,000 after acquiring an additional 45,899 shares in the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DOMO has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Domo from $13.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Domo in a report on Monday, July 1st. Lake Street Capital cut Domo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $8.00 in a report on Friday, May 24th. Finally, TD Cowen decreased their target price on Domo from $11.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.20.

Domo Stock Up 1.0 %

NASDAQ:DOMO traded up $0.08 on Monday, reaching $8.26. 315,775 shares of the company’s stock traded hands, compared to its average volume of 398,078. The stock has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $8.45. The firm has a market cap of $315.33 million, a PE ratio of -3.93 and a beta of 2.45. Domo has a 12 month low of $6.11 and a 12 month high of $17.38.

Domo (NASDAQ:DOMO) last issued its quarterly earnings data on Thursday, May 23rd. The company reported ($0.71) earnings per share 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. On average, equities analysts anticipate that Domo will post -2.4 earnings per share for the current year.

About Domo

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.