Domo, Inc.'s (NASDAQ:DOMO) Chief Technology Officer and Executive Vice President of Product, Thayne Daren, has sold a total of 22,500 shares of the company's Class B Common Stock, netting over $203,000. The transactions were executed on April 4th, with the weighted average sale price of the shares being approximately $9.0352.
Investors tracking insider activity may note that the sales took place in multiple transactions, with prices ranging from $9.005 to $9.09 per share. Following the sale, Daren holds 343,758 shares of Domo's Class B Common Stock directly. Additionally, it is reported that Thayne Daren's associated entity, DAREN AND SHARISA THAYNE FAMILY, LLC, holds an indirect ownership of 103,552 shares.
The recent transaction details come from a Form 4 filed with the Securities and Exchange Commission (SEC), dated April 5th. This form is used to report changes in company insiders' ownership positions and is closely watched by investors seeking to understand the actions of a company's executives and their confidence in the firm's prospects.
Domo, Inc., headquartered in American Fork, Utah, specializes in prepackaged software solutions and operates within the technology sector. The company, formerly known as Lightstorm, Inc. and Shacho, Inc., has undergone name changes in the past but now focuses on providing a cloud-based operating system for business.
Adam Gerulat, as attorney-in-fact, signed the filing on behalf of Thayne Daren. The document also mentions that 300 shares were recently acquired by Daren under the company's 2018 Employee Stock Purchase Plan on April 1st, 2024.
This sale represents a significant transaction by a key executive of Domo, and it is information that current and prospective shareholders may consider as part of their investment research and decision-making process.
InvestingPro Insights
The recent sale of shares by Domo, Inc.'s (NASDAQ:DOMO) Chief Technology Officer, Thayne Daren, coincides with a period of notable financial metrics and market performance for the company. According to real-time data from InvestingPro, Domo's market capitalization stands at $336.2 million, reflecting the company's current valuation in the market. Additionally, the company's gross profit margin is an impressive 76.34% for the last twelve months as of Q4 2024, indicating a strong ability to retain revenue after the cost of goods sold is accounted for.
However, it's important for investors to consider that Domo's stock price has experienced significant volatility, as indicated by a 20.41% decline over the last month. This level of price fluctuation can be a critical factor for investors with a lower risk tolerance. The InvestingPro Tips further highlight that analysts have revised their earnings expectations downwards for the upcoming period, and they do not anticipate the company will be profitable this year. This sentiment is reinforced by the company's negative P/E ratio of -4.25, suggesting that investors are currently paying more for each dollar of loss the company incurs.
For those looking to delve deeper into Domo's financial health and future prospects, InvestingPro offers additional insights. There are currently 7 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/DOMO. To enhance your research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a more comprehensive understanding of Domo's financial landscape and investment potential.
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