Josh James, Director and CEO of Domo (NASDAQ:DOMO), recently increased his stake in the company. James is also the founder and owner of more than 10% of the company’s shares. DOMO stock gained more than 3% in yesterday’s extended trade and a further 2% at the time of writing.
The American cloud software company specializes in business intelligence tools and data visualization.
James bought 429,810 shares of the company at a weighted average price of $14.11 per share. The total value of the transaction is about $6.06 million. Following this latest buy, the total value of DOMO stock in his portfolio is $17.9 million.
Interestingly, the CEO has had a 44% success rate in his nine transactions over the past year, with an average 22.9% return per transaction.
Overall, TipRanks’ Insider Trading Activity tool shows that insiders are currently neutral on DOMO stock, as corporate insiders have bought DOMO stock worth $5.6 million in the last three months.
TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Domo a Good Stock to Buy?
Today, JMP Securities analyst Patrick Walravens reiterated a Buy rating on the stock. The analyst is optimistic about the company’s profits and top-line growth potential. Furthermore, Walravens’ price target of $30 implies a significant upside potential of 104.1%.
On TipRanks, Domo has a Strong Buy consensus rating based on three Buy and one Hold recommendations. The average DOMO stock price target of $22.33 suggests an upside of 51.9%.
