Traders Purchase High Volume of Call Options on Domo (NASDAQ:DOMO)

Domo, Inc. (NASDAQ:DOMO) was the target of some unusual options trading on Wednesday. Traders bought 12,131 call options on the stock. This is an increase of 271% compared to the average daily volume of 3,271 call options.

Insiders Place Their Bets

In other Domo news, insider Rpd Fund Management Llc sold 39,034 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $4.46, for a total value of $174,091.64. Following the completion of the sale, the insider owned 4,187,809 shares of the company’s stock, valued at approximately $18,677,628.14. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tod Crane sold 68,483 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $162,989.54. Following the sale, the chief financial officer owned 276,809 shares in the company, valued at $658,805.42. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,567,562 shares of company stock valued at $4,301,792 in the last three months. 13.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Domo

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in Domo by 17.5% during the first quarter. AQR Capital Management LLC now owns 40,231 shares of the company’s stock worth $312,000 after purchasing an additional 5,985 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Domo in the 1st quarter valued at $237,000. Goldman Sachs Group Inc. boosted its holdings in shares of Domo by 22.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 172,680 shares of the company’s stock valued at $1,340,000 after purchasing an additional 31,740 shares during the last quarter. Creative Planning grew its stake in shares of Domo by 23.2% during the 2nd quarter. Creative Planning now owns 15,362 shares of the company’s stock valued at $215,000 after buying an additional 2,889 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Domo by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 54,308 shares of the company’s stock valued at $759,000 after buying an additional 4,751 shares during the period. 76.64% of the stock is owned by institutional investors and hedge funds.

Domo Trading Down 0.4%

Shares of Domo stock traded down $0.01 during trading hours on Wednesday, reaching $3.60. 522,161 shares of the company’s stock were exchanged, compared to its average volume of 1,751,558. Domo has a 52-week low of $1.84 and a 52-week high of $18.49. The company has a fifty day moving average of $3.38 and a 200-day moving average of $4.52. The firm has a market capitalization of $162.31 million, a price-to-earnings ratio of -2.70 and a beta of 1.79.

Domo (NASDAQ:DOMO) last released its earnings results on Monday, June 15th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $79.40 million during the quarter, compared to analyst estimates of $79.64 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. On average, equities research analysts anticipate that Domo will post -1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DOMO. Cantor Fitzgerald decreased their price objective on shares of Domo from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, June 16th. Weiss Ratings raised shares of Domo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Lake Street Capital decreased their price target on Domo from $13.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, March 11th. UBS Group restated a “neutral” rating on shares of Domo in a report on Tuesday, June 16th. Finally, DA Davidson reissued a “neutral” rating and issued a $3.50 price objective on shares of Domo in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $4.83.

About Domo

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.