Investors Buy Large Volume of Domo Call Options (NASDAQ:DOMO)

Domo, Inc. (NASDAQ:DOMO) was the recipient of some unusual options trading activity on Thursday. Traders acquired 7,658 call options on the stock. This represents an increase of 98% compared to the average daily volume of 3,866 call options.

Insider Buying and Selling at Domo

In other Domo news, CFO Tod Crane sold 68,483 shares of Domo stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total transaction of $162,989.54. Following the completion of the transaction, the chief financial officer owned 276,809 shares in the company, valued at approximately $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 accessible through this link. Also, insider Rpd Fund Management Llc sold 39,034 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $4.46, for a total transaction of $174,091.64. Following the completion of the sale, the insider owned 4,187,809 shares in the company, valued at $18,677,628.14. This represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 466,662 shares of company stock worth $1,483,488. 13.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Domo in the second quarter worth approximately $42,000. Rangeley Capital LLC acquired a new position in Domo during the first quarter worth approximately $80,000. Andina Capital Management LLC acquired a new position in Domo during the fourth quarter worth approximately $84,000. Oxford Asset Management LLP purchased a new position in Domo during the fourth quarter worth approximately $88,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Domo during the fourth quarter worth approximately $88,000. Institutional investors and hedge funds own 76.64% of the company’s stock.

More Domo News

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 transaction that could significantly strengthen its balance sheet and give management more capital flexibility. Why Is Domo (DOMO) Stock Rallying Over 23% After Hours Today?
• Positive Sentiment: Unusual options activity showed traders buying 7,658 call options, nearly double the normal daily volume, indicating bullish speculation around further share gains.
• Neutral Sentiment: Lake Street Capital upgraded Domo from hold to buy, but lowered its price target to $5 from $7, suggesting modest upside from current levels.
• Negative Sentiment: Stephens downgraded Domo from overweight to equal weight and cut its price target to $4 from $5, signaling reduced enthusiasm after the asset sale.
• Negative Sentiment: Some analysts argued the divestiture leaves Domo as a limited-prospects public shell, implying the long-term operating story may be weaker after the core business sale. Domo: Sell On Limited Prospects For The Public Shell After Core Business Divestiture

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. DA Davidson restated a “neutral” rating and issued a $3.50 price objective on shares of Domo in a research report on Tuesday, June 16th. Stephens cut Domo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research report on Thursday. Lake Street Capital upgraded Domo from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $7.00 to $5.00 in a research report on Thursday. Wall Street Zen lowered shares of Domo from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, UBS Group cut shares of Domo from a “buy” rating to a “neutral” rating and set a $4.84 price target on the stock. in a research note on Thursday. One equities research 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’s stock. According to MarketBeat, Domo currently has a consensus rating of “Reduce” and an average target price of $3.95.

Domo Stock Up 25.4%

DOMO stock opened at $3.95 on Friday. The stock has a market capitalization of $178.34 million, a price-to-earnings ratio of -2.97 and a beta of 1.79. Domo has a 52-week low of $1.84 and a 52-week high of $18.49. The stock’s fifty day simple moving average is $3.32 and its 200-day simple moving average is $4.07.

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.