Insider Selling: Sumo Logic, Inc. (NASDAQ:SUMO) General Counsel Sells $80,665.92 in Stock

Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) General Counsel Katherine Haar sold 6,813 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $11.84, for a total value of $80,665.92. Following the transaction, the general counsel now owns 188,214 shares in the company, valued at approximately $2,228,453.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sumo Logic Trading Down 0.2 %

Shares of SUMO opened at $11.88 on Friday. Sumo Logic, Inc. has a 52-week low of $6.43 and a 52-week high of $12.60. The business’s fifty day moving average is $10.98 and its 200-day moving average is $8.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group raised their price objective on Sumo Logic from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Tuesday, January 24th. Morgan Stanley decreased their price target on Sumo Logic from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, December 19th. William Blair lowered Sumo Logic from an “outperform” rating to a “market perform” rating in a research note on Friday, February 10th. Royal Bank of Canada lowered Sumo Logic from an “outperform” rating to a “sector perform” rating and set a $12.00 price target on the stock. in a research note on Thursday, February 9th. Finally, Cowen lowered Sumo Logic from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 14th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.80.

Institutional Investors Weigh In On Sumo Logic

A number of hedge funds and other institutional investors have recently bought and sold shares of SUMO. Quantbot Technologies LP bought a new stake in Sumo Logic during the 2nd quarter worth $38,000. Metropolitan Life Insurance Co NY grew its position in Sumo Logic by 23.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,121 shares of the company’s stock worth $53,000 after acquiring an additional 1,350 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Sumo Logic by 282.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,525 shares of the company’s stock worth $64,000 after acquiring an additional 6,294 shares during the last quarter. Walleye Capital LLC bought a new stake in Sumo Logic during the 2nd quarter worth $76,000. Finally, HighTower Advisors LLC bought a new stake in Sumo Logic during the 4th quarter worth $80,000. Institutional investors own 71.65% of the company’s stock.

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.