Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CEO Ramin Sayar sold 30,883 shares of Sumo Logic stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $8.80, for a total value of $271,770.40. Following the completion of the transaction, the chief executive officer now owns 790,025 shares in the company, valued at approximately $6,952,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Ramin Sayar also recently made the following trade(s):
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- On Thursday, September 8th, Ramin Sayar sold 4,035 shares of Sumo Logic stock. The shares were sold at an average price of $8.60, for a total value of $34,701.00.
- On Monday, August 8th, Ramin Sayar sold 4,035 shares of Sumo Logic stock. The shares were sold at an average price of $8.22, for a total value of $33,167.70.
- On Friday, July 8th, Ramin Sayar sold 4,035 shares of Sumo Logic stock. The shares were sold at an average price of $8.31, for a total value of $33,530.85.
- On Thursday, June 23rd, Ramin Sayar sold 21,823 shares of Sumo Logic stock. The stock was sold at an average price of $7.93, for a total value of $173,056.39.
- On Tuesday, June 21st, Ramin Sayar sold 41,496 shares of Sumo Logic stock. The stock was sold at an average price of $7.66, for a total value of $317,859.36.
Sumo Logic Stock Down 1.7 %
Sumo Logic stock opened at $8.02 on Tuesday. Sumo Logic, Inc. has a 52 week low of $6.57 and a 52 week high of $17.90. The company has a market capitalization of $950.75 million, a price-to-earnings ratio of -6.74 and a beta of 1.28. The stock has a 50-day moving average price of $8.08 and a 200 day moving average price of $8.79.
Sumo Logic (NASDAQ:SUMO – Get Rating) last released its earnings results on Thursday, August 25th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.04. Sumo Logic had a negative return on equity of 28.29% and a negative net
margin of 49.82%. The firm had revenue of $74.10 million during the quarter, compared to the consensus estimate of $71.55 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company's revenue was up 26.0% compared to the same quarter last year. Research analysts anticipate that Sumo Logic, Inc. will post -1.22 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in Sumo Logic in the second quarter valued at approximately $38,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Sumo Logic in the second quarter valued at approximately $76,000. Walleye Capital LLC acquired a new position in Sumo Logic in the second quarter valued at approximately $76,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Sumo Logic in the second quarter valued at approximately $85,000. Finally, US Bancorp DE lifted its holdings in Sumo Logic by 32.0% in the first quarter. US Bancorp DE now owns 7,741 shares of the company's stock valued at $90,000 after acquiring an additional 1,875 shares during the period. 72.04% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Cowen lowered their price target on Sumo Logic to $13.00 in a report on Friday, May 27th. Piper Sandler lowered their price target on Sumo Logic from $10.00 to $8.00 in a report on Wednesday, July 13th. Morgan Stanley raised their price target on Sumo Logic from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, August 26th. Royal Bank of Canada lowered their price target on Sumo Logic from $17.00 to $14.00 in a report on Monday, May 23rd. Finally, Jefferies Financial Group decreased their target price on Sumo Logic from $12.00 to $8.50 in a report on Monday, May 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sumo Logic has an average rating of "Hold" and a consensus target price of $13.07.
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.
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