Ramin Sayar Sells 21,812 Shares of Sumo Logic, Inc. (NASDAQ:SUMO) Stock

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Sumo Logic by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 10,441,550 shares of the company’s stock worth $78,311,000 after acquiring an additional 803,704 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Sumo Logic by 24.4% in the 3rd quarter. BlackRock Inc. now owns 9,127,877 shares of the company’s stock worth $68,459,000 after acquiring an additional 1,788,618 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Sumo Logic by 52.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,068,632 shares of the company’s stock valued at $41,056,000 after buying an additional 1,750,607 shares during the last quarter. Brown Advisory Inc. increased its stake in Sumo Logic by 1.4% in the 3rd quarter. Brown Advisory Inc. now owns 3,373,891 shares of the company’s stock valued at $25,304,000 after buying an additional 45,479 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Sumo Logic by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 2,670,145 shares of the company’s stock valued at $19,999,000 after buying an additional 88,510 shares during the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.

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.