Insider Selling: Sumo Logic, Inc. (NASDAQ:SUMO) Director Sells 4,500 Shares of Stock

Sumo Logic, Inc. (NASDAQ:SUMO) Director Christian Beedgen sold 4,500 shares of Sumo Logic stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $21.00, for a total value of $94,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Christian Beedgen also recently made the following trade(s):

  • On Monday, June 7th, Christian Beedgen sold 23,500 shares of Sumo Logic stock. The stock was sold at an average price of $20.55, for a total value of $482,925.00.
  • On Thursday, April 1st, Christian Beedgen sold 90,000 shares of Sumo Logic stock. The stock was sold at an average price of $18.03, for a total value of $1,622,700.00.
  • On Thursday, March 25th, Christian Beedgen sold 40,000 shares of Sumo Logic stock. The stock was sold at an average price of $18.64, for a total value of $745,600.00.
  • On Tuesday, March 23rd, Christian Beedgen sold 10,000 shares of Sumo Logic stock. The stock was sold at an average price of $19.21, for a total value of $192,100.00.
  • On Friday, March 19th, Christian Beedgen sold 16,030 shares of Sumo Logic stock. The stock was sold at an average price of $19.82, for a total value of $317,714.60.
  • On Tuesday, March 16th, Christian Beedgen sold 8,970 shares of Sumo Logic stock. The stock was sold at an average price of $21.66, for a total value of $194,290.20.

NASDAQ SUMO opened at $21.49 on Friday. The stock has a market capitalization of $2.30 billion and a P/E ratio of -14.23. The firm’s fifty day moving average is $18.85. Sumo Logic, Inc. has a fifty-two week low of $15.80 and a fifty-two week high of $46.37.

Sumo Logic (NASDAQ:SUMO) last released its earnings results on Wednesday, June 2nd. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The company had revenue of $54.22 million for the quarter, compared to analysts’ expectations of $53.89 million. Sumo Logic’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.91) earnings per share. As a group, research analysts anticipate that Sumo Logic, Inc. will post -1.04 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greylock Xiii GP LLC purchased a new position in shares of Sumo Logic in the fourth quarter valued at about $527,098,000. Glynn Capital Management LLC lifted its position in shares of Sumo Logic by 1,680.8% in the first quarter. Glynn Capital Management LLC now owns 2,938,274 shares of the company’s stock valued at $55,416,000 after acquiring an additional 2,773,274 shares in the last quarter. ETF Managers Group LLC purchased a new position in shares of Sumo Logic in the fourth quarter valued at about $46,581,000. Brown Advisory Inc. lifted its position in shares of Sumo Logic by 176.0% in the first quarter. Brown Advisory Inc. now owns 1,327,658 shares of the company’s stock valued at $25,041,000 after acquiring an additional 846,554 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Sumo Logic by 135.2% in the fourth quarter. BlackRock Inc. now owns 1,193,345 shares of the company’s stock valued at $34,106,000 after acquiring an additional 686,017 shares in the last quarter. Institutional investors own 63.99% of the company’s stock.

A number of analysts have commented on SUMO shares. Zacks Investment Research lowered Sumo Logic from a “hold” rating to a “sell” rating in a report on Thursday. Piper Sandler raised their price target on Sumo Logic from $24.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, June 4th. BTIG Research dropped their price target on Sumo Logic from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, June 4th. They noted that the move was a valuation call. Morgan Stanley dropped their price target on Sumo Logic from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 25th. Finally, Jefferies Financial Group dropped their price target on Sumo Logic from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, May 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.56.

Sumo Logic Company 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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Insider Buying and Selling by Quarter for Sumo Logic (NASDAQ:SUMO)

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