RPD Fund Management LLC Increases Position in Domo, Inc. $DOMO

RPD Fund Management LLC increased its holdings in shares of Domo, Inc. (NASDAQ:DOMO) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,613,726 shares of the company’s stock after purchasing an additional 990,326 shares during the quarter. Domo makes up about 4.6% of RPD Fund Management LLC’s investment portfolio, making the stock its 5th biggest holding. RPD Fund Management LLC owned 10.22% of Domo worth $14,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOMO. Captrust Financial Advisors acquired a new position in shares of Domo during the 4th quarter worth about $8,108,000. First Trust Advisors LP bought a new stake in Domo during the third quarter worth about $9,744,000. AIGH Capital Management LLC boosted its position in Domo by 37.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company’s stock valued at $15,492,000 after purchasing an additional 496,244 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Domo by 299.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 576,897 shares of the company’s stock valued at $4,863,000 after purchasing an additional 432,426 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Domo by 159.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 684,365 shares of the company’s stock worth $5,769,000 after purchasing an additional 420,093 shares during the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Domo

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 research firms have recently commented on DOMO. Cantor Fitzgerald downgraded Domo from an “overweight” rating to a “hold” rating and set a $4.84 price objective for the company. in a report on Thursday. TD Cowen downgraded shares of Domo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $6.00 to $3.25 in a report on Tuesday, June 16th. Wall Street Zen lowered shares of Domo from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. UBS Group lowered shares of Domo from a “buy” rating to a “neutral” rating and set a $4.84 price target on the stock. in a research report on Thursday. Finally, Stephens cut shares of Domo from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $5.00 to $4.00 in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Domo currently has an average rating of “Reduce” and an average price target of $3.95.

Insider Activity at Domo

In other news, CFO Tod Crane sold 68,483 shares of the business’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rpd Fund Management Llc sold 39,034 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 4,187,809 shares of the company’s stock, valued at approximately $18,677,628.14. This represents a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 466,662 shares of company stock valued at $1,483,488 in the last 90 days. Insiders own 13.25% of the company’s stock.

Domo Price Performance

Shares of DOMO opened at $3.68 on Monday. The company’s 50-day moving average is $3.33 and its 200-day moving average is $4.04. The firm has a market capitalization of $166.15 million, a PE ratio of -2.77 and a beta of 1.79. Domo, Inc. has a fifty-two week low of $1.84 and a fifty-two week high of $18.49.

Domo 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.