Walleye Capital LLC Acquires New Shares in Sumo Logic, Inc. (NASDAQ:SUMO)

Walleye Capital LLC acquired a new stake in Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) in the second quarter, Holdings Channel reports. The institutional investor acquired 10,148 shares of the company’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. M&T Bank Corp increased its holdings in Sumo Logic by 100.0% in the second quarter. M&T Bank Corp now owns 35,832 shares of the company’s stock valued at $268,000 after purchasing an additional 17,916 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in Sumo Logic in the second quarter valued at about $76,000. Nisa Investment Advisors LLC increased its holdings in Sumo Logic by 41.8% in the second quarter. Nisa Investment Advisors LLC now owns 27,700 shares of the company’s stock valued at $207,000 after purchasing an additional 8,160 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Sumo Logic by 10.9% in the second quarter. Handelsbanken Fonder AB now owns 17,300 shares of the company’s stock worth $130,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Sumo Logic by 0.8% in the second quarter. Brown Advisory Inc. now owns 3,220,543 shares of the company’s stock worth $24,289,000 after acquiring an additional 27,071 shares in the last quarter. Institutional investors own 72.04% of the company’s stock.

Insider Transactions at Sumo Logic

In other news, General Counsel Katherine Haar sold 3,500 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $8.92, for a total transaction of $31,220.00. Following the completion of the transaction, the general counsel now directly owns 217,412 shares of the company’s stock, valued at $1,939,315.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ramin Sayar sold 4,035 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $8.60, for a total transaction of $34,701.00. Following the completion of the transaction, the chief executive officer now directly owns 820,908 shares of the company’s stock, valued at $7,059,808.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Katherine Haar sold 3,500 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $8.92, for a total value of $31,220.00. Following the transaction, the general counsel now directly owns 217,412 shares of the company’s stock, valued at $1,939,315.04. The disclosure for this sale can be found here. Insiders sold 88,278 shares of company stock valued at $753,797 over the last three months. Company insiders own 7.50% of the company’s stock.

Sumo Logic Price Performance

SUMO stock opened at $7.59 on Monday. The stock has a market capitalization of $899.77 million, a P/E ratio of -6.38 and a beta of 1.23. The business has a 50-day moving average of $7.52 and a 200-day moving average of $7.79. Sumo Logic, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $16.44.

Sumo Logic (NASDAQ:SUMOGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $74.10 million for the quarter, compared to analyst estimates of $71.55 million. Sumo Logic had a negative return on equity of 28.29% and a negative net margin of 49.82%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.24) earnings per share. Equities analysts expect that Sumo Logic, Inc. will post -1.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price target on Sumo Logic from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, August 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sumo Logic has a consensus rating of “Hold” and a consensus target price of $13.07.

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.

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

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