Ramin Sayar Sells 4,035 Shares of Sumo Logic, Inc. (NASDAQ:SUMO) Stock

Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) CEO Ramin Sayar sold 4,035 shares of Sumo Logic 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 sale, the chief executive officer now directly owns 820,908 shares of the company’s stock, valued at $7,059,808.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ramin Sayar also recently made the following trade(s):

  • On Monday, August 8th, Ramin Sayar sold 4,035 shares of Sumo Logic stock. The shares were sold at an average price of $8.22, for a total transaction of $33,167.70.
  • On Friday, July 8th, Ramin Sayar sold 4,035 shares of Sumo Logic stock. The shares were sold at an average price of $8.31, for a total transaction of $33,530.85.
  • On Thursday, June 23rd, Ramin Sayar sold 21,823 shares of Sumo Logic stock. The shares were sold at an average price of $7.93, for a total transaction of $173,056.39.
  • On Tuesday, June 21st, Ramin Sayar sold 41,496 shares of Sumo Logic stock. The shares were sold at an average price of $7.66, for a total transaction of $317,859.36.
  • On Wednesday, June 15th, Ramin Sayar sold 30,883 shares of Sumo Logic stock. The shares were sold at an average price of $7.31, for a total transaction of $225,754.73.

Sumo Logic Trading Up 3.1 %

Shares of SUMO stock opened at $8.98 on Friday. Sumo Logic, Inc. has a 12 month low of $6.57 and a 12 month high of $19.49. The company’s fifty day moving average price is $8.02 and its two-hundred day moving average price is $8.97.

Sumo Logic (NASDAQ:SUMOGet Rating) last issued its quarterly earnings data on Thursday, August 25th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. Sumo Logic had a negative net margin of 49.82% and a negative return on equity of 28.29%. The firm had revenue of $74.10 million for the quarter, compared to analyst estimates of $71.55 million. During the same quarter in the previous year, the business posted ($0.24) EPS. The firm’s revenue was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Sumo Logic, Inc. will post -1.22 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Sumo Logic

A number of institutional investors have recently added to or reduced their stakes in SUMO. Millennium Management LLC lifted its holdings in Sumo Logic by 219.2% in the 2nd quarter. Millennium Management LLC now owns 2,480,141 shares of the company’s stock worth $18,576,000 after buying an additional 1,703,168 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sumo Logic by 421.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,850,100 shares of the company’s stock worth $13,857,000 after purchasing an additional 1,495,400 shares during the last quarter. Washington Harbour Partners LP bought a new stake in shares of Sumo Logic in the 1st quarter worth about $12,366,000. ETF Managers Group LLC increased its position in shares of Sumo Logic by 29.4% in the 4th quarter. ETF Managers Group LLC now owns 3,104,045 shares of the company’s stock worth $43,177,000 after purchasing an additional 705,212 shares during the last quarter. Finally, Needham Investment Management LLC increased its position in shares of Sumo Logic by 133.5% in the 2nd quarter. Needham Investment Management LLC now owns 1,115,000 shares of the company’s stock worth $8,352,000 after purchasing an additional 637,500 shares during the last quarter. Institutional investors and hedge funds own 72.04% of the company’s stock.

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

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