Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CMO Suku Krishnaraj Chettiar sold 8,946 shares of the firm's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $8.80, for a total value of $78,724.80. Following the completion of the sale, the chief marketing officer now owns 360,859 shares of the company's stock, valued at $3,175,559.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Suku Krishnaraj Chettiar also recently made the following trade(s):

• On Tuesday, September 13th, Suku Krishnaraj Chettiar sold 15,677 shares of Sumo Logic stock. The shares were sold at an average price of $8.57, for a total value of $134,351.89.

Sumo Logic Trading Down 1.7 %

Shares of NASDAQ:SUMO traded down $0.14 during midday trading on Monday, reaching $8.02. The company had a trading volume of 1,281,984 shares, compared to its average volume of 1,132,098. Sumo Logic, Inc. has a 52-week low of $6.57 and a 52-week high of $17.90. The company's 50 day moving average price is $8.07 and its 200 day moving average price is $8.82. The stock has a market cap of $950.75 million, a P/E ratio of -6.74 and a beta of 1.28.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Sumo Logic from $12.00 to $8.50 in a research note on Monday, May 23rd. Cowen decreased their price objective on Sumo Logic to $13.00 in a report on Friday, May 27th. Morgan Stanley raised their target price on Sumo Logic from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, August 26th. Royal Bank of Canada decreased their price target on Sumo Logic from $17.00 to $14.00 in a report on Monday, May 23rd. Finally, Piper Sandler dropped their price objective on Sumo Logic from $10.00 to $8.00 in a research note on Wednesday, July 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sumo Logic presently has an average rating of "Hold" and an average price target of $13.07.

Institutional Trading of Sumo Logic

Several hedge funds have recently made changes to their positions in the company. Aaron Wealth Advisors LLC bought a new position in shares of Sumo Logic during the 1st quarter worth $242,000. Quantbot Technologies LP purchased a new stake in Sumo Logic during the second quarter valued at about $38,000. US Bancorp DE boosted its position in Sumo Logic by 32.0% during the first quarter. US Bancorp DE now owns 7,741 shares of the company's stock worth $90,000 after purchasing an additional 1,875 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Sumo Logic in the second quarter worth about $76,000. Finally, Walleye Capital LLC bought a new stake in shares of Sumo Logic in the second quarter valued at approximately $76,000. 72.04% of the stock is currently owned by institutional investors.

About Sumo Logic

(Get Rating)

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.

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