Arizona State Retirement System Buys 1,500 Shares of Sumo Logic, Inc. (NASDAQ:SUMO)

Arizona State Retirement System increased its stake in Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,088 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Arizona State Retirement System’s holdings in Sumo Logic were worth $203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Sumo Logic by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 10,441,550 shares of the company’s stock valued at $78,311,000 after buying an additional 803,704 shares during the period. BlackRock Inc. increased its stake in Sumo Logic by 24.4% in the third quarter. BlackRock Inc. now owns 9,127,877 shares of the company’s stock valued at $68,459,000 after acquiring an additional 1,788,618 shares during the last quarter. Brown Advisory Inc. increased its stake in Sumo Logic by 1.4% in the third quarter. Brown Advisory Inc. now owns 3,373,891 shares of the company’s stock valued at $25,304,000 after acquiring an additional 45,479 shares during the last quarter. Legal & General Group Plc raised its position in Sumo Logic by 3.4% during the second quarter. Legal & General Group Plc now owns 2,670,145 shares of the company’s stock valued at $19,999,000 after purchasing an additional 88,510 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Sumo Logic by 219.2% during the second quarter. Millennium Management LLC now owns 2,480,141 shares of the company’s stock worth $18,576,000 after purchasing an additional 1,703,168 shares during the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SUMO. Cowen downgraded Sumo Logic from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 14th. William Blair cut shares of Sumo Logic from an “outperform” rating to a “market perform” rating in a research report on Friday, February 10th. Finally, Royal Bank of Canada downgraded shares of Sumo Logic from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a research note on Thursday, February 9th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Sumo Logic presently has a consensus rating of “Hold” and an average price target of $10.80.

Insider Buying and Selling at Sumo Logic

In other news, CEO Ramin Sayar sold 21,812 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $11.84, for a total value of $258,254.08. Following the transaction, the chief executive officer now 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 can be accessed through the SEC website. In related news, CEO Ramin Sayar sold 21,812 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $11.84, for a total value of $258,254.08. Following the transaction, the chief executive officer now owns 735,495 shares in the company, valued at $8,708,260.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lynne Doherty Mcdonald sold 9,803 shares of Sumo Logic stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $11.84, for a total value of $116,067.52. Following the completion of the transaction, the insider now directly owns 456,701 shares of the company’s stock, valued at $5,407,339.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,691 shares of company stock valued at $836,981. 7.50% of the stock is currently owned by company insiders.

Sumo Logic Price Performance

SUMO opened at $12.04 on Thursday. Sumo Logic, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $12.60. The company’s 50 day moving average price is $11.99 and its two-hundred day moving average price is $10.32. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -11.36 and a beta of 1.30.

Sumo Logic (NASDAQ:SUMO – Get Rating) last posted its quarterly earnings data on Tuesday, March 7th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. The business had revenue of $79.75 million during the quarter, compared to the consensus estimate of $77.55 million. Sumo Logic had a negative return on equity of 25.88% and a negative net margin of 41.51%.

Sumo Logic 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.