RPD Fund Management LLC Has $14.12 Million Stake in Domo, Inc. $DOMO

RPD Fund Management LLC lifted its holdings in Domo, Inc. (NASDAQ:DOMO) by 27.3% during the 1st quarter, HoldingsChannel reports. The fund owned 4,613,726 shares of the company’s stock after acquiring an additional 990,326 shares during the quarter. Domo accounts for approximately 4.6% of RPD Fund Management LLC’s holdings, making the stock its 5th largest position. RPD Fund Management LLC owned about 0.10% of Domo worth $14,118,000 at the end of the most recent reporting period.

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

Insider Activity

In other Domo news, CEO Joshua G. James sold 96,088 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $228,689.44. Following the sale, the chief executive officer owned 1,638,873 shares of the company’s stock, valued at approximately $3,900,517.74. This trade represents a 5.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rpd Fund Management Llc sold 39,034 shares of Domo stock in a transaction on Monday, June 1st. The shares were sold at an average price of $4.46, for a total value of $174,091.64. Following the completion of the transaction, the insider owned 4,187,809 shares in the company, valued at approximately $18,677,628.14. The trade was a 0.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 466,662 shares of company stock valued at $1,483,488 in the last three months. Company insiders own 13.25% of the company’s stock.

Domo Stock Performance

NASDAQ DOMO opened at $3.68 on Monday. The firm has a market capitalization of $166.15 million, a price-to-earnings ratio of -2.77 and a beta of 1.79. The firm’s 50 day simple moving average is $3.33 and its 200 day simple moving average is $4.04. Domo, Inc. has a 1 year low of $1.84 and a 1 year high of $18.49.

Domo News Roundup

Here are the key news stories impacting Domo this week:

• Positive Sentiment: Domo agreed to sell substantially all of its AI and data business to Progress Software for $400 million, a deal that sparked a sharp after-hours rally as investors reassessed the company’s value. Domo Announces Agreement to Sell Substantially All Assets and Certain Liabilities to Progress Software for $400 Million
• Positive Sentiment: Unusual options activity showed a surge in call buying, suggesting traders were positioning for more upside ahead of or following the deal news. Why Is Domo (DOMO) Stock Rallying Over 23% After Hours Today?
• Positive Sentiment: Lake Street Capital upgraded Domo to buy and set a $5 price target, indicating additional upside from current levels despite trimming its valuation outlook. Lake Street Capital upgrade coverage
• Neutral Sentiment: Reports noted that Domo will keep its current leadership and operate as a separate entity after the transaction, leaving some uncertainty about the company’s long-term standalone strategy. Domo sells its main businesses for $400 million, leaving founder Josh James with a hoard of cash to put to work
• Negative Sentiment: Stephens downgraded Domo to equal weight and reduced its price target to $4, reflecting caution about the company’s prospects after the divestiture. Stephens downgrade coverage
• Negative Sentiment: Some analysts and commentary suggested the remaining public company may have limited prospects after shedding its core business, which could weigh on the stock over time. Domo: Sell On Limited Prospects For The Public Shell After Core Business Divestiture

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald cut Domo from an “overweight” rating to a “hold” rating and set a $4.84 price target for the company. in a research note on Thursday. TD Cowen lowered Domo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $6.00 to $3.25 in a research note on Tuesday, June 16th. Stephens cut Domo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $5.00 to $4.00 in a report on Thursday. UBS Group downgraded Domo from a “buy” rating to a “neutral” rating and set a $4.84 target price for the company. in a research report on Thursday. Finally, Citizens Jmp reduced their target price on Domo from $3.50 to $2.25 and set a “market underperform” rating on the stock in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $3.95.

Domo Company Profile

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.