Sumo Logic, Inc. (NASDAQ:SUMO) is Greylock Xiii GP LLC’s Largest Position

Greylock Xiii GP LLC lowered its holdings in Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) by 50.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,676,090 shares of the company’s stock after selling 3,691,700 shares during the period. Sumo Logic comprises 100.0% of Greylock Xiii GP LLC’s portfolio, making the stock its largest position. Greylock Xiii GP LLC owned 3.28% of Sumo Logic worth $49,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SUMO. Artemis Investment Management LLP lifted its holdings in Sumo Logic by 44.7% during the 4th quarter. Artemis Investment Management LLP now owns 4,941,866 shares of the company’s stock worth $66,989,000 after buying an additional 1,526,625 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Sumo Logic by 88.7% during the 4th quarter. Brown Advisory Inc. now owns 2,874,379 shares of the company’s stock worth $38,977,000 after buying an additional 1,350,897 shares during the last quarter. BlackRock Inc. lifted its holdings in Sumo Logic by 22.2% during the 3rd quarter. BlackRock Inc. now owns 5,572,010 shares of the company’s stock worth $89,820,000 after buying an additional 1,012,961 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sumo Logic by 81.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,517,351 shares of the company’s stock worth $24,459,000 after buying an additional 681,222 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Sumo Logic by 74.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,495,211 shares of the company’s stock worth $24,102,000 after buying an additional 638,236 shares during the last quarter. 69.99% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Christian Beedgen sold 5,778 shares of Sumo Logic stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $10.27, for a total transaction of $59,340.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is owned by company insiders.

A number of research analysts have commented on the company. Zacks Investment Research raised Sumo Logic from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Piper Sandler cut their price target on Sumo Logic from $15.00 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, March 9th. Morgan Stanley cut their price target on Sumo Logic from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 23rd. Royal Bank of Canada cut their price target on Sumo Logic from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, March 9th. Finally, Rosenblatt Securities cut their price target on Sumo Logic from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sumo Logic currently has a consensus rating of “Hold” and a consensus price target of $17.31.

SUMO traded up $0.09 during trading hours on Tuesday, hitting $7.83. The company’s stock had a trading volume of 39,541 shares, compared to its average volume of 1,891,583. Sumo Logic, Inc. has a fifty-two week low of $6.87 and a fifty-two week high of $23.48. The company has a 50-day simple moving average of $10.18 and a 200 day simple moving average of $12.24.

Sumo Logic (NASDAQ:SUMOGet Rating) last posted its earnings results on Tuesday, March 8th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.03. Sumo Logic had a negative return on equity of 24.66% and a negative net margin of 50.95%. The firm had revenue of $67.05 million for the quarter, compared to analysts’ expectations of $64.33 million. During the same period last year, the firm earned ($0.19) EPS. The firm’s revenue was up 23.8% compared to the same quarter last year. Equities analysts anticipate that Sumo Logic, Inc. will post -1.17 EPS for the current year.

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

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