Sumo Logic, Inc. (NASDAQ:SUMO) General Counsel Katherine Haar Sells 5,548 Shares of Stock

Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) General Counsel Katherine Haar sold 5,548 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $7.31, for a total transaction of $40,555.88. Following the completion of the sale, the general counsel now owns 220,912 shares in the company, valued at $1,614,866.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sumo Logic stock opened at $7.44 on Friday. Sumo Logic, Inc. has a 1 year low of $6.87 and a 1 year high of $23.48. The firm has a 50-day moving average of $8.62 and a two-hundred day moving average of $10.95.

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

A number of institutional investors have recently added to or reduced their stakes in SUMO. Voya Investment Management LLC lifted its position 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 worth $532,000 after purchasing an additional 1,045 shares during the period. American International Group Inc. lifted its position in shares of Sumo Logic by 2.7% in the 3rd quarter. American International Group Inc. now owns 46,958 shares of the company’s stock worth $757,000 after purchasing an additional 1,240 shares during the period. WealthShield Partners LLC lifted its position in shares of Sumo Logic by 12.1% in the 1st quarter. WealthShield Partners LLC now owns 12,583 shares of the company’s stock worth $147,000 after purchasing an additional 1,361 shares during the period. California State Teachers Retirement System lifted its position in shares of Sumo Logic by 3.0% in the 4th quarter. California State Teachers Retirement System now owns 47,768 shares of the company’s stock worth $648,000 after purchasing an additional 1,410 shares during the period. Finally, US Bancorp DE lifted its position in shares of Sumo Logic by 32.0% in the 1st quarter. US Bancorp DE now owns 7,741 shares of the company’s stock worth $90,000 after purchasing an additional 1,875 shares during the period. 69.99% of the stock is owned by institutional investors.

SUMO has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Sumo Logic from $12.50 to $10.00 in a report on Friday, May 27th. Cowen reduced their target price on shares of Sumo Logic to $13.00 in a report on Friday, May 27th. Royal Bank of Canada reduced their target price on shares of Sumo Logic from $17.00 to $14.00 in a report on Monday, May 23rd. Rosenblatt Securities reduced their target price 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. Finally, Morgan Stanley cut 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sumo Logic has an average rating of “Hold” and an average target price of $13.36.

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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