Domo Inc (DOMO, +1 on April 18th)
Daniel Daniel (Director since 2019) purchased 47,500 shares on April 13th at $14.42, spending $685,000 and more than doubling his holdings to 73,747 shares. Despite being on the board since 2019, and having a Wall Street background (currently a portfolio manager and founder at Twenty Acre Capital, former MD at BlackRock) this is his first purchase.
We ranked this stock +N on April 5th based on a $6.1 million purchase from Joshua James (CEO since 2023, founder in 2010), his largest purchase, and a reversal from sales he made in November 2023 at a similar price level. James was reappointed as CEO in 2023 and controls 82% of the voting rights with his 100% ownership of the A shares (3.3m A shares) along with 1.4m B shares. The stock has been hovering at this price level since October 2022, and these recent purchases from Daniel and James show confidence.
The company recently hired a new CFO, David Jolley, and he made a recent modest purchase.
We are upgrading the shares further, from +N to +1.
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