Circle Wealth Management LLC Invests $131,000 in Sumo Logic, Inc. (NASDAQ:SUMO)

Circle Wealth Management LLC purchased a new position in shares of Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,245 shares of the company’s stock, valued at approximately $131,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Sumo Logic by 4.7% during the first quarter. Vanguard Group Inc. now owns 8,931,782 shares of the company’s stock worth $104,234,000 after acquiring an additional 397,968 shares during the last quarter. BlackRock Inc. grew its position in shares of Sumo Logic by 1.4% during the first quarter. BlackRock Inc. now owns 6,312,734 shares of the company’s stock worth $73,670,000 after acquiring an additional 86,882 shares during the last quarter. Artemis Investment Management LLP grew its position in shares of Sumo Logic by 10.0% during the first quarter. Artemis Investment Management LLP now owns 5,433,946 shares of the company’s stock worth $63,296,000 after acquiring an additional 492,080 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Sumo Logic by 11.1% during the first quarter. Brown Advisory Inc. now owns 3,193,472 shares of the company’s stock worth $37,320,000 after acquiring an additional 319,093 shares during the last quarter. Finally, ETF Managers Group LLC grew its position in Sumo Logic by 29.4% in the 4th quarter. ETF Managers Group LLC now owns 3,104,045 shares of the company’s stock valued at $43,177,000 after buying an additional 705,212 shares in the last quarter. Institutional investors own 72.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SUMO shares. Royal Bank of Canada decreased their target price on shares of Sumo Logic from $17.00 to $14.00 in a research report on Monday, May 23rd. Cowen reduced their price objective on shares of Sumo Logic to $13.00 in a research report on Friday, May 27th. Jefferies Financial Group reduced their price objective on shares of Sumo Logic from $12.00 to $8.50 in a research report on Monday, May 23rd. Piper Sandler reduced their price objective on shares of Sumo Logic from $10.00 to $8.00 in a research report on Wednesday, July 13th. Finally, Morgan Stanley raised their price objective on shares of Sumo Logic from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, August 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.07.

Sumo Logic Stock Up 3.1 %

SUMO stock opened at $8.98 on Friday. Sumo Logic, Inc. has a one year low of $6.57 and a one year high of $19.49. The firm has a 50-day moving average of $8.02 and a two-hundred day moving average of $8.97.

Sumo Logic (NASDAQ:SUMOGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. Sumo Logic had a negative net margin of 49.82% and a negative return on equity of 28.29%. The company had revenue of $74.10 million during the quarter, compared to analyst estimates of $71.55 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts predict that Sumo Logic, Inc. will post -1.22 earnings per share for the current fiscal year.

Insider Transactions at Sumo Logic

In related news, CMO Suku Krishnaraj Chettiar sold 8,946 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $7.31, for a total value of $65,395.26. Following the transaction, the chief marketing officer now owns 370,945 shares in the company, valued at $2,711,607.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sumo Logic news, CMO Suku Krishnaraj Chettiar sold 8,946 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $7.31, for a total transaction of $65,395.26. Following the transaction, the chief marketing officer now owns 370,945 shares in the company, valued at $2,711,607.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ramin Sayar sold 30,883 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $7.31, for a total transaction of $225,754.73. Following the completion of the sale, the chief executive officer now owns 896,332 shares in the company, valued at approximately $6,552,186.92. The disclosure for this sale can be found here. Insiders sold 133,390 shares of company stock valued at $1,017,534 over the last three months. 7.50% of the stock is owned by corporate insiders.

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

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