Versor Investments LP Purchases 1,949 Shares of Sumo Logic, Inc. (NASDAQ:SUMO)

Versor Investments LP increased its position in Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) by 11.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,532 shares of the company’s stock after acquiring an additional 1,949 shares during the quarter. Versor Investments LP’s holdings in Sumo Logic were worth $216,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Sumo Logic by 358.5% in the fourth 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. WealthShield Partners LLC bought a new position in shares of Sumo Logic in the fourth quarter valued at approximately $152,000. Waldron Private Wealth LLC bought a new position in shares of Sumo Logic in the fourth quarter valued at approximately $153,000. Bessemer Group Inc. boosted its position in shares of Sumo Logic by 56.0% in the fourth quarter. Bessemer Group Inc. now owns 12,103 shares of the company’s stock valued at $164,000 after acquiring an additional 4,344 shares during the period. Finally, Strs Ohio bought a new stake in Sumo Logic during the fourth quarter valued at approximately $166,000. 69.99% of the stock is currently owned by institutional investors.

Sumo Logic Stock Performance

Shares of SUMO opened at $6.77 on Monday. The firm has a market cap of $783.51 million, a price-to-earnings ratio of -5.74 and a beta of 1.97. Sumo Logic, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $22.16. The firm has a 50 day moving average price of $7.69 and a 200-day moving average price of $9.63.

Sumo Logic (NASDAQ:SUMOGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.03. Sumo Logic had a negative net margin of 51.30% and a negative return on equity of 26.10%. The firm had revenue of $67.90 million during the quarter, compared to analyst estimates of $66.09 million. During the same period in the previous year, the business posted ($0.24) EPS. The business’s quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts predict that Sumo Logic, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Sumo Logic from $17.00 to $14.00 in a research report on Monday, May 23rd. Cowen dropped their target price on shares of Sumo Logic to $13.00 in a research report on Friday, May 27th. Morgan Stanley dropped their target price on shares of Sumo Logic from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. Piper Sandler dropped their target price on shares of Sumo Logic from $10.00 to $8.00 in a research report on Wednesday, July 13th. Finally, Jefferies Financial Group dropped their target price on shares of Sumo Logic from $12.00 to $8.50 in a research report on Monday, May 23rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.07.

Insider Buying and Selling

In related news, CAO Jennifer Mccord sold 4,712 shares of Sumo Logic stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $7.31, for a total value of $34,444.72. Following the transaction, the chief accounting officer now directly owns 208,550 shares of the company’s stock, valued at $1,524,500.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Ramin Sayar sold 30,883 shares of Sumo Logic stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $7.31, for a total value of $225,754.73. Following the transaction, the chief executive officer now directly owns 896,332 shares of the company’s stock, valued at $6,552,186.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Mccord sold 4,712 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $7.31, for a total transaction of $34,444.72. Following the transaction, the chief accounting officer now directly owns 208,550 shares in the company, valued at $1,524,500.50. The disclosure for this sale can be found here. Insiders have sold a total of 125,320 shares of company stock valued at $948,841 over the last three months. 7.50% of the stock is owned by company insiders.

Sumo Logic Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Sumo Logic (NASDAQ:SUMO)

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