Insider Selling: Sumo Logic, Inc. (NASDAQ:SUMO) CAO Sells $60,632.64 in Stock

Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) CAO Jennifer Mccord sold 5,121 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $11.84, for a total transaction of $60,632.64. Following the transaction, the chief accounting officer now owns 189,874 shares of the company’s stock, valued at approximately $2,248,108.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sumo Logic Stock Down 0.2 %

Shares of NASDAQ:SUMO opened at $11.88 on Friday. The company has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $8.87. Sumo Logic, Inc. has a one year low of $6.43 and a one year high of $12.60.

Institutional Investors Weigh In On Sumo Logic

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in shares of Sumo Logic in the second quarter valued at about $38,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Sumo Logic by 23.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 7,121 shares of the company’s stock valued at $53,000 after buying an additional 1,350 shares during the last quarter. US Bancorp DE raised its holdings in shares of 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 buying an additional 1,875 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Sumo Logic by 282.1% in the third quarter. Tower Research Capital LLC TRC now owns 8,525 shares of the company’s stock valued at $64,000 after buying an additional 6,294 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Sumo Logic in the fourth quarter valued at about $80,000. 71.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SUMO has been the subject of a number of research reports. Royal Bank of Canada cut shares of Sumo Logic from an “outperform” rating to a “sector perform” rating and set a $12.00 price target for the company. in a research report on Thursday, February 9th. Jefferies Financial Group boosted their price target on shares of Sumo Logic from $8.50 to $11.00 and gave the company a “hold” rating in a research report on Tuesday, January 24th. William Blair cut shares of Sumo Logic from an “outperform” rating to a “market perform” rating in a research report on Friday, February 10th. Cowen cut shares of Sumo Logic from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 14th. Finally, Morgan Stanley reduced their price target on shares of Sumo Logic from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, December 19th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.80.

About Sumo Logic

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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.