Sumo Logic, Inc. (NASDAQ:SUMO) CAO Jennifer Mccord Sells 4,712 Shares

Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) CAO Jennifer Mccord sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $7.31, for a total transaction of $34,444.72. Following the sale, the chief accounting officer now owns 208,550 shares of the company’s stock, valued at $1,524,500.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jennifer Mccord also recently made the following trade(s):

  • On Tuesday, June 7th, Jennifer Mccord sold 1,250 shares of Sumo Logic stock. The shares were sold at an average price of $7.84, for a total transaction of $9,800.00.

SUMO traded up $0.40 during trading on Friday, reaching $7.44. 2,646,904 shares of the company’s stock were exchanged, compared to its average volume of 1,218,112. Sumo Logic, Inc. has a fifty-two week low of $6.87 and a fifty-two week high of $23.48. The business has a 50 day moving average price of $8.68 and a 200 day moving average price of $11.00. The company has a market capitalization of $861.05 million, a P/E ratio of -6.31 and a beta of 2.29.

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

Institutional investors have recently bought and sold shares of the company. Aaron Wealth Advisors LLC acquired a new position in shares of Sumo Logic in the 1st quarter valued at approximately $242,000. Nisa Investment Advisors LLC boosted its position in Sumo Logic by 358.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,980 shares of the company’s stock worth $35,000 after acquiring an additional 2,330 shares during the last quarter. US Bancorp DE boosted its position in Sumo Logic by 32.0% during the 1st quarter. US Bancorp DE now owns 7,741 shares of the company’s stock worth $90,000 after acquiring an additional 1,875 shares during the last quarter. XTX Topco Ltd acquired a new position in Sumo Logic during the 1st quarter worth approximately $129,000. Finally, WealthShield Partners LLC acquired a new position in Sumo Logic during the 4th quarter worth approximately $152,000. Institutional investors own 69.99% of the company’s stock.

SUMO has been the topic of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Sumo Logic from $12.50 to $10.00 in a research note on Friday, May 27th. Jefferies Financial Group dropped their price objective on shares of Sumo Logic from $12.00 to $8.50 in a report on Monday, May 23rd. Rosenblatt Securities lowered their target price on shares of Sumo Logic from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. Royal Bank of Canada lowered their target price on shares of Sumo Logic from $17.00 to $14.00 in a research note on Monday, May 23rd. Finally, Morgan Stanley reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.36.

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.

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