Artemis Investment Management LLP Has $63.30 Million Position in Sumo Logic, Inc. (NASDAQ:SUMO)

Artemis Investment Management LLP grew its holdings in Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) by 10.0% during the 1st quarter, HoldingsChannel reports. The firm owned 5,433,946 shares of the company’s stock after acquiring an additional 492,080 shares during the quarter. Artemis Investment Management LLP’s holdings in Sumo Logic were worth $63,296,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. American International Group Inc. grew its position in shares of Sumo Logic by 2.7% in the third quarter. American International Group Inc. now owns 46,958 shares of the company’s stock valued at $757,000 after purchasing an additional 1,240 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Sumo Logic by 358.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,980 shares of the company’s stock valued at $35,000 after buying an additional 2,330 shares during the period. Bessemer Group Inc. lifted its stake in shares of Sumo Logic by 56.0% in the fourth quarter. Bessemer Group Inc. now owns 12,103 shares of the company’s stock valued at $164,000 after buying an additional 4,344 shares during the period. Dumac Inc. lifted its stake in shares of Sumo Logic by 2.1% in the fourth quarter. Dumac Inc. now owns 214,586 shares of the company’s stock valued at $2,910,000 after buying an additional 4,500 shares during the period. Finally, Hamilton Lane Advisors LLC lifted its stake in shares of Sumo Logic by 8.1% in the fourth quarter. Hamilton Lane Advisors LLC now owns 88,152 shares of the company’s stock valued at $1,195,000 after buying an additional 6,618 shares during the period. 69.99% of the stock is currently owned by institutional investors.

NASDAQ:SUMO opened at $7.67 on Friday. Sumo Logic, Inc. has a 1 year low of $6.87 and a 1 year high of $23.48. The firm has a 50 day moving average of $8.12 and a 200-day moving average of $10.51. The stock has a market capitalization of $887.66 million, a P/E ratio of -6.50 and a beta of 2.29.

Sumo Logic (NASDAQ:SUMOGet Rating) last posted its earnings results on Thursday, May 26th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. Sumo Logic had a negative net margin of 51.30% and a negative return on equity of 26.10%. The company had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $66.09 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Sumo Logic’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, analysts anticipate that Sumo Logic, Inc. will post -0.91 earnings per share for the current fiscal year.

In related news, CEO Ramin Sayar sold 21,823 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $7.93, for a total value of $173,056.39. Following the completion of the sale, the chief executive officer now owns 833,013 shares of the company’s stock, valued at $6,605,793.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Suku Krishnaraj Chettiar sold 8,946 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $7.31, for a total transaction of $65,395.26. Following the completion of the sale, the chief marketing officer now directly owns 370,945 shares of the company’s stock, valued at approximately $2,711,607.95. The disclosure for this sale can be found here. Insiders sold 121,285 shares of company stock valued at $915,310 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on SUMO shares. Cowen reduced their target price on shares of Sumo Logic to $13.00 in a research note on Friday, May 27th. Royal Bank of Canada cut their price target on shares of Sumo Logic from $17.00 to $14.00 in a research note on Monday, May 23rd. Rosenblatt Securities cut their price target on shares of Sumo Logic from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, March 9th. Jefferies Financial Group cut their price target on shares of Sumo Logic from $12.00 to $8.50 in a research note on Monday, May 23rd. Finally, Morgan Stanley cut their price target on shares of Sumo Logic from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.36.

About Sumo Logic (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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