Invenomic Capital Management LP Increases Stake in Domo, Inc. (NASDAQ:DOMO)

Invenomic Capital Management LP increased its holdings in Domo, Inc. (NASDAQ:DOMO - Free Report) by 42.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 316,964 shares of the company's stock after purchasing an additional 93,858 shares during the period. Invenomic Capital Management LP owned approximately 0.83% of Domo worth $2,827,000 as of its most recent SEC filing.

• Domo Stock Ready for the Next Leg Up

A number of other institutional investors also recently made changes to their positions in DOMO. GSA Capital Partners LLP raised its holdings in Domo by 192.5% during the 1st quarter. GSA Capital Partners LLP now owns 193,106 shares of the company's stock valued at $1,723,000 after buying an additional 127,091 shares during the last quarter. King Luther Capital Management Corp bought a new stake in Domo during the 4th quarter valued at $1,133,000. Acadian Asset Management LLC raised its holdings in Domo by 43.8% during the 1st quarter. Acadian Asset Management LLC now owns 984,107 shares of the company's stock valued at $8,775,000 after buying an additional 299,747 shares during the last quarter. Vanguard Group Inc. raised its holdings in Domo by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,544,399 shares of the company's stock valued at $44,581,000 after buying an additional 190,496 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Domo by 4.1% during the 4th quarter. BNP Paribas Financial Markets now owns 43,707 shares of the company's stock valued at $450,000 after buying an additional 1,704 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company's stock.

Domo Stock Performance

DOMO stock traded up $0.24 during trading on Wednesday, hitting $8.43. 69,914 shares of the stock traded hands, compared to its average volume of 403,731. The firm's 50 day moving average is $7.33 and its two-hundred day moving average is $8.68. Domo, Inc. has a 1 year low of $6.11 and a 1 year high of $18.19.

Domo (NASDAQ:DOMO - Get Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.07). The firm had revenue of $80.10 million for the quarter, compared to analysts' expectations of $79.57 million. Sell-side analysts expect that Domo, Inc. will post -2.4 EPS for the current fiscal year.

Insider Transactions at Domo

In other Domo news, Director Daniel David Daniel III acquired 150,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $6.87 per share, for a total transaction of $1,030,500.00. Following the purchase, the director now directly owns 561,400 shares of the company's stock, valued at $3,856,818. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Daren Thayne sold 7,095 shares of the firm's stock in a transaction on Friday, June 21st. The shares were 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 directly owns 406,663 shares of the company's stock, valued at $2,785,641.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel David Daniel III bought 150,000 shares of the business's stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average cost of $6.87 per share, with a total value of $1,030,500.00. Following the completion of the acquisition, the director now owns 561,400 shares of the company's stock, valued at approximately $3,856,818. The disclosure for this purchase can be found here. Company insiders own 14.04% of the company's stock.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on Domo

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.

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