Sumo Logic, Inc. (NASDAQ:SUMO) CEO Sells $317,859.36 in Stock

Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) CEO Ramin Sayar sold 41,496 shares of Sumo Logic stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $7.66, for a total value of $317,859.36. Following the sale, the chief executive officer now owns 854,836 shares of the company’s stock, valued at approximately $6,548,043.76. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Ramin Sayar also recently made the following trade(s):

  • On Wednesday, June 15th, Ramin Sayar sold 30,883 shares of Sumo Logic stock. The stock was sold at an average price of $7.31, for a total value of $225,754.73.

Shares of NASDAQ SUMO traded up $0.19 during midday trading on Thursday, hitting $7.95. The stock had a trading volume of 1,222,616 shares, compared to its average volume of 1,215,798. The company has a market capitalization of $920.07 million, a price-to-earnings ratio of -6.58 and a beta of 2.29. Sumo Logic, Inc. has a 1-year low of $6.87 and a 1-year high of $23.48. The company has a fifty day moving average price of $8.44 and a 200 day moving average price of $10.82.

Sumo Logic (NASDAQ:SUMOGet Rating) last released its quarterly earnings data on Thursday, May 26th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.04. The business had revenue of $67.90 million for the quarter, compared to analyst estimates of $66.09 million. Sumo Logic had a negative return on equity of 26.10% and a negative net margin of 51.30%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) EPS. On average, sell-side analysts anticipate that Sumo Logic, Inc. will post -0.91 earnings per share for the current fiscal year.

A number of research firms recently commented on SUMO. Royal Bank of Canada dropped their price objective on Sumo Logic from $17.00 to $14.00 in a research report on Monday, May 23rd. Rosenblatt Securities dropped their price objective on Sumo Logic from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. Piper Sandler dropped their price objective on Sumo Logic from $12.50 to $10.00 in a research report on Friday, May 27th. Cowen lowered their price target on Sumo Logic to $13.00 in a report on Friday, May 27th. Finally, Morgan Stanley lowered their price target on Sumo Logic from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sumo Logic currently has an average rating of “Hold” and a consensus price target of $13.36.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUMO. Franklin Resources Inc. acquired a new position in shares of Sumo Logic in the 3rd quarter valued at about $217,000. Voya Investment Management LLC lifted its stake in shares of Sumo Logic by 3.3% in the 3rd quarter. Voya Investment Management LLC now owns 32,997 shares of the company’s stock valued at $532,000 after purchasing an additional 1,045 shares in the last quarter. Royal Bank of Canada lifted its position in Sumo Logic by 6.6% during the 3rd quarter. Royal Bank of Canada now owns 117,382 shares of the company’s stock worth $1,893,000 after acquiring an additional 7,249 shares in the last quarter. Tudor Investment Corp Et Al lifted its position in Sumo Logic by 30.0% during the 3rd quarter. Tudor Investment Corp Et Al now owns 18,324 shares of the company’s stock worth $295,000 after acquiring an additional 4,229 shares in the last quarter. Finally, Man Group plc lifted its position in Sumo Logic by 31.2% during the 3rd quarter. Man Group plc now owns 100,126 shares of the company’s stock worth $1,614,000 after acquiring an additional 23,819 shares in the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.

Sumo Logic Company Profile (Get Rating)

Sumo Logic, Inc provides cloud-native software-as-a-service platform that enables organizations to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing worldwide. It offers Continuous Intelligence Platform, a cloud-native, multi-tenant, and secure service that leverages to enable reliability and security of cloud applications and workloads.

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