Insider Selling: Sumo Logic, Inc. (NASDAQ:SUMO) CMO Sells $110,573.76 in Stock

Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CMO Suku Krishnaraj Chettiar sold 9,339 shares of Sumo Logic stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $11.84, for a total transaction of $110,573.76. Following the sale, the chief marketing officer now owns 305,966 shares of the company’s stock, valued at $3,622,637.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Sumo Logic Stock Performance

Shares of Sumo Logic stock opened at $11.88 on Friday. Sumo Logic, Inc. has a 1 year low of $6.43 and a 1 year high of $12.60. The business has a 50 day moving average price of $10.98 and a 200 day moving average price of $8.87.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Delphia USA Inc. raised its holdings in Sumo Logic by 6.6% in the 4th quarter. Delphia USA Inc. now owns 17,388 shares of the company’s stock valued at $141,000 after acquiring an additional 1,075 shares during the last quarter. American International Group Inc. raised its holdings in Sumo Logic by 2.1% in the 4th quarter. American International Group Inc. now owns 54,948 shares of the company’s stock valued at $445,000 after acquiring an additional 1,110 shares during the last quarter. Keybank National Association OH raised its holdings in Sumo Logic by 2.9% in the 4th quarter. Keybank National Association OH now owns 42,092 shares of the company’s stock valued at $341,000 after acquiring an additional 1,168 shares during the last quarter. Metropolitan Life Insurance Co NY raised its holdings in Sumo Logic by 23.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,121 shares of the company’s stock valued at $53,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Sumo Logic by 6.4% in the 4th quarter. Arizona State Retirement System now owns 25,088 shares of the company’s stock valued at $203,000 after acquiring an additional 1,500 shares during the last quarter. 71.65% of the stock is currently owned by institutional investors and hedge funds.

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.