Checking in on Sumo Logic Inc. (SUMO) after recent insiders movement

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Sumo Logic Inc.’s recent filing unveils that its General Counsel and Secretary Haar Katherine unloaded Company’s shares for reported $69685.0 on Oct 10. In the deal valued at $6.94 per share,10,044 shares were sold. As a result of this transaction, Haar Katherine now holds 201,821 shares worth roughly $ 1.36 million.


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Then, McCord Jennifer sold 7,316 shares, generating $64,388 in total proceeds. Upon selling the shares at $8.80, the Chief Accounting Officer now owns 199,984 shares.

Before that, Chettiar Suku Krishnaraj sold 8,946 shares. Sumo Logic Inc. shares valued at $78,734 were divested by the Chief Marketing Officer at a price of $8.80 per share. As a result of the transaction, Chettiar Suku Krishnaraj now holds 360,859 shares, worth roughly $2.43 million.

Berenberg downgraded its Sumo Logic Inc. [SUMO] rating to a Hold from a a Buy in a research note published on Monday. PT values the company’s stock at a premium of 57.88 to its Monday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in early September from “an Overweight” to “a Neutral”. BTIG Research also remained covering SUMO and has decreased its forecast on September 10, 2021 with a “Neutral” recommendation from previously “Buy” rating. Rosenblatt started covering the stock on February 11, 2021. It rated SUMO as “a Buy”.

Price Performance Review of SUMO

On Monday, Sumo Logic Inc. [NASDAQ:SUMO] saw its stock fall -3.44% to $6.74. On the same session, the stock had its day’s lowest price of $6.64, but rose to a high of $7.06. Over the last five days, the stock has lost -12.58%. Sumo Logic Inc. shares have fallen nearly -50.29% since the year began. Nevertheless, the stocks have fallen -60.35% over the past one year. While a 52-week high of $17.80 was reached on 01/04/22, a 52-week low of $6.43 was recorded on 10/13/22. SMA at 50 days reached $7.72, while 200 days put it at $8.96. A total of 0.68 million shares were traded, compared to the trading of 1.04 million shares in the previous session.

Levels Of Support And Resistance For SUMO Stock

The 24-hour chart illustrates a support level at 6.57, which if violated will result in even more drops to 6.39. On the upside, there is a resistance level at 6.99. A further resistance level may holdings at 7.23. The Relative Strength Index (RSI) on the 14-day chart is 38.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.37%. Stochastics %K at 21.39% indicates the stock is a holding.

How much short interest is there in Sumo Logic Inc.?

A steep rise in short interest was recorded in Sumo Logic Inc. stocks on Jul 14, 2022, dropping by -0.81 million shares to a total of 4.78 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.59 million shares. There was a decline of -16.95%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.25% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.19.

Sumo Logic Inc. [SUMO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,424,510 shares, or roughly 7.95% of the outstanding SUMO shares. In other words, the investor’s shares have risen by 666,161 from its previous 13-F filing of 8758349.0. Additionally, BlackRock Fund Advisors increased 6.02% of its stake after which the total value it holdings stand at $43,519,748, while ArrowMark Colorado Holdings LLC reduced -3.53% of its stake to hold $37.24 million in the firm. Over the last quarter, Artemis Investment Management LLP sold -1,654,123 shares of Sumo Logic Inc., while Brown Advisory LLC sold 28,470 shares. At present, Legal & General Investment Manage is holding 2,644,582 shares valued at $19.83 million. Millennium Management LLC owned 2,480,141 shares of the company at the time of its most recent 13F filing, worth $18.6 million.

According to FactSet, Sumo Logic Inc.’s share price will average $11.43 in the next year, based on opinions of analysts polled by the firm. This is up nearly 57.59 percent from its previous closing price of $6.98. Analysts expect Sumo Logic Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $8.00. However, 9 analysts have rated SUMO stock as an Overweight in their predictions for 2022. The most recent change occurred on October 12, 2020 when William Blair began covering the stock and recommended ‘”an Outperform”‘ rating.

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