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

Invenomic Capital Management LP cut its stake in Domo, Inc. (NASDAQ:DOMO) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,055 shares of the company’s stock after selling 49,433 shares during the quarter. Invenomic Capital Management LP owned about 0.66% of Domo worth $1,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its position in Domo by 51.1% during the second 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. SG Americas Securities LLC bought a new stake in shares of Domo in the 3rd quarter valued at about $88,000. Rockwood Wealth Management LLC purchased a new position in shares of Domo in the 2nd quarter worth approximately $104,000. Quest Partners LLC raised its stake in shares of Domo by 291.9% during the 3rd quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock worth $103,000 after acquiring an additional 10,204 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in Domo during the third quarter valued at approximately $161,000. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

Domo Trading Up 1.5 %

NASDAQ:DOMO opened at $9.67 on Wednesday. The company has a market capitalization of $373.55 million, a P/E ratio of -4.48 and a beta of 2.44. Domo, Inc. has a 12 month low of $6.11 and a 12 month high of $12.23. The firm has a fifty day simple moving average of $8.20 and a 200-day simple moving average of $7.70.

Wall Street Analysts Forecast Growth

DOMO has been the topic of several analyst reports. DA Davidson lifted their price target on shares of Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. TD Cowen boosted their target price on Domo from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 29th. Finally, 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Domo currently has a consensus rating of “Hold” and an average target price of $9.80.

Insiders Place Their Bets

In related news, CFO David R. Jolley purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $6.99 per share, with a total value of $69,900.00. Following the acquisition, the chief financial officer now owns 291,465 shares in the company, valued at $2,037,340.35. The trade was a 3.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.04% of the stock is currently owned by insiders.

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.