Bank of New York Mellon Corp Acquires 18,135 Shares of Domo, Inc. (NASDAQ:DOMO)

Bank of New York Mellon Corp lifted its stake in Domo, Inc. (NASDAQ:DOMO) by 17.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,571 shares of the company’s stock after acquiring an additional 18,135 shares during the period. Bank of New York Mellon Corp owned approximately 0.33% of Domo worth $962,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Domo in the 1st quarter worth about $43,000. EntryPoint Capital LLC bought a new position in shares of Domo in the first quarter valued at approximately $45,000. Harbor Capital Advisors Inc. grew its stake 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 acquiring an additional 2,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Domo by 68.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,282 shares of the company’s stock valued at $119,000 after acquiring an additional 4,971 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Domo during the 1st quarter worth approximately $121,000. 76.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DOMO. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Domo in a report on Friday, August 30th. TD Cowen lifted their price objective on Domo from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Finally, DA Davidson upped their target price on Domo from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.60.

Domo Price Performance

Shares of NASDAQ:DOMO opened at $7.02 on Friday. The company’s fifty day moving average price is $7.73 and its 200-day moving average price is $7.83. The firm has a market capitalization of $267.99 million, a price-to-earnings ratio of -3.34 and a beta of 2.44. Domo, Inc. has a one year low of $6.11 and a one year high of $12.23.

Domo (NASDAQ:DOMO) last released its earnings results on Thursday, August 29th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $78.41 million during the quarter, compared to the consensus estimate of $76.60 million. During the same period in the prior year, the company earned ($0.44) EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Domo, Inc. will post -2.31 EPS for the current year.

Insider Activity at Domo

In other news, CFO David R. Jolley bought 10,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $6.99 per share, with a total value of $69,900.00. Following the completion of the purchase, the chief financial officer now directly owns 291,465 shares in the company, valued at $2,037,340.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.04% of the stock is currently owned by insiders.

Domo Profile

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.