Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CEO Ramin Sayar sold 21,812 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $11.84, for a total transaction of $258,254.08. Following the sale, the chief executive officer now directly owns 735,495 shares in the company, valued at approximately $8,708,260.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Sumo Logic Price Performance
SUMO opened at $11.88 on Friday. Sumo Logic, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $12.60. The firm has a market capitalization of $1.43 billion, a PE ratio of -11.21 and a beta of 1.31. The company’s 50-day moving average is $10.98 and its 200 day moving average is $8.88.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on SUMO shares. Morgan Stanley cut their price objective on shares of Sumo Logic from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, December 19th. William Blair cut shares of Sumo Logic from an “outperform” rating to a “market perform” rating in a research report on Friday, February 10th. Cowen cut shares of Sumo Logic from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 14th. Royal Bank of Canada cut shares of Sumo Logic from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a research report on Thursday, February 9th. Finally, Jefferies Financial Group increased their price objective on shares of Sumo Logic from $8.50 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, January 24th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.80.
Institutional Investors Weigh In On Sumo Logic
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.
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