Charles Schwab Investment Management Inc. Acquires New Position in Sumo Logic, Inc. (NASDAQ:SUMO)

Charles Schwab Investment Management Inc. bought a new position in shares of Sumo Logic, Inc. (NASDAQ:SUMO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,549 shares of the company’s stock, valued at approximately $3,046,000.

Other institutional investors also recently modified their holdings of the company. Greylock Xiii GP LLC acquired a new stake in shares of Sumo Logic during the 4th quarter valued at approximately $527,098,000. BlackRock Inc. grew its holdings in shares of Sumo Logic by 135.2% in the 4th quarter. BlackRock Inc. now owns 1,193,345 shares of the company’s stock worth $34,106,000 after acquiring an additional 686,017 shares during the period. Clearbridge Investments LLC increased its stake in Sumo Logic by 28.0% in the 4th quarter. Clearbridge Investments LLC now owns 644,110 shares of the company’s stock valued at $18,409,000 after purchasing an additional 140,810 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Sumo Logic by 2.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 522,052 shares of the company’s stock worth $14,920,000 after purchasing an additional 11,738 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in Sumo Logic by 2.1% during the fourth quarter. Brown Advisory Inc. now owns 481,104 shares of the company’s stock worth $13,749,000 after purchasing an additional 10,051 shares during the last quarter. 27.17% of the stock is owned by institutional investors.

Shares of SUMO opened at $17.84 on Wednesday. Sumo Logic, Inc. has a 1 year low of $16.50 and a 1 year high of $46.37. The firm’s 50 day moving average price is $21.19.

Sumo Logic (NASDAQ:SUMO) last issued its quarterly earnings results on Wednesday, March 10th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. The business had revenue of $54.20 million during the quarter, compared to analyst estimates of $52.13 million. The company’s revenue was up 22.3% on a year-over-year basis. As a group, research analysts forecast that Sumo Logic, Inc. will post -1.65 EPS for the current fiscal year.

A number of research analysts have recently weighed in on SUMO shares. Zacks Investment Research cut Sumo Logic from a “buy” rating to a “hold” rating in a research report on Thursday, April 15th. Morgan Stanley dropped their target price on shares of Sumo Logic from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 17th. BTIG Research cut their target price on shares of Sumo Logic from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, March 17th. Cowen reduced their price target on shares of Sumo Logic from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, March 11th. Finally, Rosenblatt Securities dropped their price objective on shares of Sumo Logic from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, March 17th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.22.

In other news, CFO Sydney Carey sold 10,500 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $19.22, for a total transaction of $201,810.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Mccord sold 3,794 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $20.01, for a total transaction of $75,917.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 631,613 shares of company stock valued at $12,503,907.

Sumo Logic 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. Its platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights.

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Institutional Ownership by Quarter for Sumo Logic (NASDAQ:SUMO)

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