Insider Selling: Sumo Logic, Inc. (NASDAQ:SUMO) CFO Sells $128,369.28 in Stock

Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CFO Stewart Grierson sold 10,842 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $11.84, for a total value of $128,369.28. Following the sale, the chief financial officer now owns 413,678 shares in the company, valued at approximately $4,897,947.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sumo Logic Trading Down 0.2 %

Shares of Sumo Logic stock opened at $11.88 on Friday. The business’s fifty day moving average price is $10.98 and its 200 day moving average price is $8.87. Sumo Logic, Inc. has a twelve month low of $6.43 and a twelve month high of $12.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its position in Sumo Logic by 8.8% in the fourth quarter. Jane Street Group LLC now owns 63,268 shares of the company’s stock valued at $512,000 after purchasing an additional 5,105 shares during the period. B. Riley Asset Management LLC raised its position in Sumo Logic by 35.4% in the fourth quarter. B. Riley Asset Management LLC now owns 1,196,851 shares of the company’s stock valued at $9,694,000 after purchasing an additional 312,637 shares during the period. State of Wisconsin Investment Board raised its position in Sumo Logic by 4.8% in the fourth quarter. State of Wisconsin Investment Board now owns 106,586 shares of the company’s stock valued at $863,000 after purchasing an additional 4,918 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Sumo Logic in the fourth quarter valued at about $213,000. Finally, Schonfeld Strategic Advisors LLC raised its position in Sumo Logic by 16.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 12,643 shares of the company’s stock valued at $102,000 after purchasing an additional 1,822 shares during the period. 71.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SUMO shares. Morgan Stanley decreased their price objective on Sumo Logic from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, December 19th. Cowen cut Sumo Logic from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 14th. Jefferies Financial Group lifted their target price on Sumo Logic from $8.50 to $11.00 and gave the company a “hold” rating in a report on Tuesday, January 24th. Royal Bank of Canada cut Sumo Logic from an “outperform” rating to a “sector perform” rating and set a $12.00 target price on the stock. in a report on Thursday, February 9th. Finally, William Blair cut Sumo Logic from an “outperform” rating to a “market perform” rating in a report on Friday, February 10th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.80.

About Sumo Logic

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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.