Sumo Logic, Inc. (NASDAQ:SUMO) Director Christian Beedgen Sells 4,500 Shares

Thursday, June 10, 2021 | MarketBeat

Sumo Logic, Inc. (NASDAQ:SUMO) Director Christian Beedgen sold 4,500 shares of the firm's stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $21.00, for a total value of $94,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Christian Beedgen also recently made the following trade(s):

  • On Monday, June 7th, Christian Beedgen sold 23,500 shares of Sumo Logic stock. The shares were sold at an average price of $20.55, for a total value of $482,925.00.
  • On Thursday, April 1st, Christian Beedgen sold 90,000 shares of Sumo Logic stock. The shares were sold at an average price of $18.03, for a total value of $1,622,700.00.
  • On Thursday, March 25th, Christian Beedgen sold 40,000 shares of Sumo Logic stock. The shares were sold at an average price of $18.64, for a total value of $745,600.00.
  • On Tuesday, March 23rd, Christian Beedgen sold 10,000 shares of Sumo Logic stock. The shares were sold at an average price of $19.21, for a total value of $192,100.00.
  • On Friday, March 19th, Christian Beedgen sold 16,030 shares of Sumo Logic stock. The shares were sold at an average price of $19.82, for a total value of $317,714.60.
  • On Tuesday, March 16th, Christian Beedgen sold 8,970 shares of Sumo Logic stock. The shares were sold at an average price of $21.66, for a total value of $194,290.20.

SUMO traded up $0.67 during trading on Thursday, hitting $21.49. 1,734,749 shares of the stock were exchanged, compared to its average volume of 1,434,668. The company has a market cap of $2.30 billion and a price-to-earnings ratio of -13.79. Sumo Logic, Inc. has a 1-year low of $15.80 and a 1-year high of $46.37. The company's fifty day simple moving average is $18.80.

Sumo Logic (NASDAQ:SUMO) last released its quarterly earnings results on Wednesday, June 2nd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The firm had revenue of $54.22 million for the quarter, compared to analyst estimates of $53.89 million. The company's quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned ($0.91) EPS. As a group, research analysts forecast that Sumo Logic, Inc. will post -1.04 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Sumo Logic from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 25th. Rosenblatt Securities decreased their price objective on Sumo Logic from $44.00 to $35.00 and set a "buy" rating for the company in a research note on Friday, June 4th. BTIG Research decreased their price objective on Sumo Logic from $35.00 to $27.00 and set a "buy" rating for the company in a research note on Friday, June 4th. They noted that the move was a valuation call. Piper Sandler boosted their target price on Sumo Logic from $24.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, June 4th. Finally, Cowen decreased their target price on Sumo Logic from $35.00 to $32.00 and set an "outperform" rating for the company in a research note on Thursday, March 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Sumo Logic has an average rating of "Buy" and a consensus target price of $26.56.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in Sumo Logic during the first quarter worth approximately $474,000. Rehmann Capital Advisory Group acquired a new position in Sumo Logic during the first quarter worth approximately $189,000. Millennium Management LLC acquired a new position in Sumo Logic during the first quarter worth approximately $3,270,000. Utah Retirement Systems acquired a new position in Sumo Logic during the first quarter worth approximately $245,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Sumo Logic in the first quarter valued at approximately $1,329,000. 63.99% of the stock is currently owned by institutional investors.

About Sumo Logic

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. Its platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights.

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