Riggs Capital Management LLC Takes Position in Domo, Inc. (NASDAQ:DOMO)

Riggs Capital Management LLC acquired a new position in shares of Domo, Inc. (NASDAQ:DOMO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,000 shares of the company’s stock, valued at approximately $85,000.

Other institutional investors have also recently bought and sold shares of the company. Parallax Volatility Advisers L.P. increased its holdings in Domo by 113.9% in the third quarter. Parallax Volatility Advisers L.P. now owns 29,990 shares of the company’s stock worth $225,000 after buying an additional 246,016 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Domo in the fourth quarter worth approximately $980,000. JPMorgan Chase & Co. increased its stake in shares of Domo by 22.7% during the 4th quarter. JPMorgan Chase & Co. now owns 643,062 shares of the company’s stock worth $4,553,000 after purchasing an additional 118,957 shares during the last quarter. FMR LLC raised its holdings in shares of Domo by 20.6% during the 3rd quarter. FMR LLC now owns 301,457 shares of the company’s stock valued at $2,264,000 after purchasing an additional 51,494 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Domo by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,107,851 shares of the company’s stock valued at $36,164,000 after purchasing an additional 36,029 shares during the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on DOMO shares. DA Davidson raised shares of Domo to a “hold” rating in a research report on Monday, March 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of Domo in a research note on Thursday, March 20th. Morgan Stanley upped their target price on Domo from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Domo in a research report on Friday, December 6th. Finally, Cowen reaffirmed a “hold” rating on shares of Domo in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.42.

Insider Activity at Domo

In other news, Director David R. Jolley sold 25,000 shares of Domo stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $8.31, for a total transaction of $207,750.00. Following the sale, the director now owns 255,743 shares of the company’s stock, valued at approximately $2,125,224.33. This trade represents a 8.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.04% of the company’s stock.

Domo Trading Down 3.6 %

Shares of Domo stock opened at $7.96 on Monday. Domo, Inc. has a 1 year low of $6.11 and a 1 year high of $10.15. The company’s fifty day simple moving average is $8.25 and its 200-day simple moving average is $7.96. The company has a market cap of $311.30 million, a price-to-earnings ratio of -3.63 and a beta of 2.56.

Domo (NASDAQ:DOMO) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.26). The business had revenue of $78.77 million for the quarter, compared to the consensus estimate of $77.95 million. As a group, research analysts forecast that Domo, Inc. will post -2.1 earnings per share for the current fiscal year.

Domo Company 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.