Whetstone Capital Advisors LLC Takes $6.59 Million Position in Domo Inc (DOMO)
Whetstone Capital Advisors LLC bought a new position in Domo Inc (NASDAQ:DOMO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 307,102 shares of the company’s stock, valued at approximately $6,587,000. Domo makes up approximately 2.3% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Whetstone Capital Advisors LLC owned about 1.17% of Domo at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in shares of Domo during the third quarter valued at approximately $113,000. American International Group Inc. bought a new stake in shares of Domo during the third quarter valued at approximately $114,000. Advisory Services Network LLC bought a new stake in shares of Domo during the third quarter valued at approximately $135,000. Bank of New York Mellon Corp increased its holdings in shares of Domo by 46.7% during the third quarter. Bank of New York Mellon Corp now owns 20,908 shares of the company’s stock valued at $448,000 after acquiring an additional 6,654 shares in the last quarter. Finally, Wells Fargo & Company MN bought a new stake in shares of Domo during the third quarter valued at approximately $180,000. Institutional investors and hedge funds own 62.48% of the company’s stock.
Several equities research analysts have recently commented on the company. Credit Suisse Group boosted their price objective on Domo from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Morgan Stanley boosted their price objective on Domo from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, September 7th. JMP Securities boosted their price objective on Domo from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Finally, Zacks Investment Research upgraded Domo from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, September 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Domo presently has an average rating of “Buy” and a consensus target price of $26.43.
Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, September 6th. The company reported ($3.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.93) by $0.49. The company had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $32.02 million. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, research analysts expect that Domo Inc will post -9.55 earnings per share for the current fiscal year.
Domo, Inc operates a cloud-based platform in the United States. Its platform digitally connects chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones.
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