Sumo Logic, Inc. (NASDAQ:SUMO) CMO Sells $65,395.26 in Stock

Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) CMO Suku Krishnaraj Chettiar sold 8,946 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $7.31, for a total transaction of $65,395.26. Following the completion of the transaction, the chief marketing officer now directly owns 370,945 shares in the company, valued at $2,711,607.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of NASDAQ SUMO traded up $0.40 during midday trading on Friday, reaching $7.44. The stock had a trading volume of 2,646,904 shares, compared to its average volume of 1,218,112. The firm has a market cap of $861.05 million, a price-to-earnings ratio of -6.31 and a beta of 2.29. Sumo Logic, Inc. has a twelve month low of $6.87 and a twelve month high of $23.48. The company’s 50 day moving average price is $8.68 and its 200 day moving average price is $11.00.

Sumo Logic (NASDAQ:SUMOGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The firm had revenue of $67.90 million for the quarter, compared to the consensus estimate of $66.09 million. Sumo Logic had a negative net margin of 51.30% and a negative return on equity of 26.10%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) EPS. On average, equities research analysts expect that Sumo Logic, Inc. will post -0.91 earnings per share for the current year.

Several research firms have commented on SUMO. Royal Bank of Canada decreased their target price on shares of Sumo Logic from $17.00 to $14.00 in a report on Monday, May 23rd. Morgan Stanley decreased their price target on shares of Sumo Logic from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Jefferies Financial Group decreased their price target on shares of Sumo Logic from $12.00 to $8.50 in a report on Monday, May 23rd. Piper Sandler decreased their price target on shares of Sumo Logic from $12.50 to $10.00 in a report on Friday, May 27th. Finally, Rosenblatt Securities decreased their price target on shares of Sumo Logic from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.36.

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of Sumo Logic by 358.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,980 shares of the company’s stock valued at $35,000 after acquiring an additional 2,330 shares during the period. US Bancorp DE increased its stake in Sumo Logic by 32.0% during the 1st quarter. US Bancorp DE now owns 7,741 shares of the company’s stock valued at $90,000 after purchasing an additional 1,875 shares in the last quarter. XTX Topco Ltd bought a new stake in Sumo Logic during the 1st quarter valued at $129,000. Circle Wealth Management LLC bought a new stake in Sumo Logic during the 1st quarter valued at $131,000. Finally, Delphia USA Inc. bought a new stake in Sumo Logic during the 1st quarter valued at $143,000. Institutional investors own 69.99% of the company’s stock.

About Sumo Logic (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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