Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CAO Jennifer Mccord sold 7,316 shares of Sumo Logic stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $8.80, for a total transaction of $64,380.80. Following the sale, the chief accounting officer now owns 199,984 shares of the company’s stock, valued at $1,759,859.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Jennifer Mccord also recently made the following trade(s):
- On Wednesday, September 7th, Jennifer Mccord sold 1,250 shares of Sumo Logic stock. The shares were sold at an average price of $8.50, for a total value of $10,625.00.
Sumo Logic Stock Performance
Sumo Logic stock opened at $8.02 on Tuesday. Sumo Logic, Inc. has a 1 year low of $6.57 and a 1 year high of $17.90. The firm has a 50 day moving average price of $8.08 and a 200 day moving average price of $8.79. The company has a market cap of $950.75 million, a price-to-earnings ratio of -6.74 and a beta of 1.28.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aaron Wealth Advisors LLC purchased a new position in shares of Sumo Logic in the 1st quarter valued at $242,000. Quantbot Technologies LP acquired a new stake in Sumo Logic in the 2nd quarter valued at $38,000. US Bancorp DE raised its position in Sumo Logic by 32.0% in the first 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 during the period. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Sumo Logic during the second quarter worth about $76,000. Finally, Walleye Capital LLC purchased a new stake in shares of Sumo Logic in the second quarter worth about $76,000. 72.04% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SUMO has been the topic of several recent research reports. Cowen decreased their price objective on shares of Sumo Logic to $13.00 in a research report on Friday, May 27th. Morgan Stanley increased their price target on shares of Sumo Logic from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, August 26th. Jefferies Financial Group cut their price objective on Sumo Logic from $12.00 to $8.50 in a research report on Monday, May 23rd. Piper Sandler reduced their price objective on Sumo Logic from $10.00 to $8.00 in a research report on Wednesday, July 13th. Finally, 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Sumo Logic currently has an average rating of “Hold” and a consensus price target of $13.07.
Sumo Logic Company Profile
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.
- Get a free copy of the StockNews.com research report on Sumo Logic (SUMO)
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