Sumo Logic, Inc. (NASDAQ:SUMO) CMO Suku Krishnaraj Chettiar Sells 8,946 Shares of Stock

Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) CMO Suku Krishnaraj Chettiar sold 8,946 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $8.80, for a total transaction of $78,724.80. Following the transaction, the chief marketing officer now directly owns 360,859 shares of the company’s stock, valued at $3,175,559.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Suku Krishnaraj Chettiar also recently made the following trade(s):

  • On Tuesday, September 13th, Suku Krishnaraj Chettiar sold 15,677 shares of Sumo Logic stock. The shares were sold at an average price of $8.57, for a total transaction of $134,351.89.

Sumo Logic Stock Down 1.7 %

Shares of NASDAQ SUMO opened at $8.02 on Tuesday. The firm has a 50-day simple moving average of $8.08 and a 200-day simple moving average of $8.79. The stock has a market capitalization of $950.75 million, a price-to-earnings ratio of -6.74 and a beta of 1.28. Sumo Logic, Inc. has a 52 week low of $6.57 and a 52 week high of $17.90.

Sumo Logic (NASDAQ:SUMOGet Rating) last released its earnings results on Thursday, August 25th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $74.10 million for the quarter, compared to analyst estimates of $71.55 million. Sumo Logic had a negative net margin of 49.82% and a negative return on equity of 28.29%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS. As a group, equities research analysts expect that Sumo Logic, Inc. will post -1.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SUMO. Jefferies Financial Group dropped their price objective on shares of Sumo Logic from $12.00 to $8.50 in a research note on Monday, May 23rd. Piper Sandler dropped their target price on Sumo Logic from $10.00 to $8.00 in a research report on Wednesday, July 13th. Cowen reduced their price target on Sumo Logic to $13.00 in a report on Friday, May 27th. Morgan Stanley boosted their price objective on Sumo Logic from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, August 26th. Finally, Royal Bank of Canada dropped their price target on shares of Sumo Logic from $17.00 to $14.00 in a research note on Monday, May 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.07.

Institutional Trading of Sumo Logic

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of Sumo Logic by 555.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 19,540 shares of the company’s stock valued at $228,000 after acquiring an additional 16,560 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in Sumo Logic by 19.5% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 39,839 shares of the company’s stock worth $465,000 after purchasing an additional 6,500 shares during the period. Keybank National Association OH boosted its holdings in Sumo Logic by 45.0% in the 1st quarter. Keybank National Association OH now owns 37,852 shares of the company’s stock valued at $442,000 after purchasing an additional 11,749 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Sumo Logic by 10.0% in the 1st quarter. Artemis Investment Management LLP now owns 5,433,946 shares of the company’s stock valued at $63,296,000 after buying an additional 492,080 shares during the period. Finally, Strs Ohio increased its holdings in shares of Sumo Logic by 198.4% during the 1st quarter. Strs Ohio now owns 36,700 shares of the company’s stock worth $428,000 after buying an additional 24,400 shares during the last quarter. 72.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

Insider Buying and Selling by Quarter for Sumo Logic (NASDAQ:SUMO)

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