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Sumo Logic, Inc. (SUMO)
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13F filings from institutional investors for the Jan-Feb-March quarter are coming in. Zurich Bank came in as a new investor during the quater with a buy of 75,000 shares. Samson Rock Capital in London came in as a new investor during the quater with a buy of 60,000 shares. And Cutler Group added to what had been a small position with a buy of 30,000 shares. Cutler is in San Francisco and probably knows Sumo well. So in summary new investors are coming into Sumo and taking over from Greylock, the VC firm that years ago provided the financing to get Sumo up and running. Greylock is now exiting the stock, which is normal for a VC firm. They held through the IPO and through the lockup period, and are now selling and moving their capital into new VC investments.
sumo just taking a nap. He will be up soon!!!!
This appears to be more insider dumping. Can't imagine it's anything else at this point..
Tech overall getting hammered again
Q1 13Fs have started to come in from institutional investors. At the end of 2020, Glynn Capital Management, located right in Sumo's back yard in Menlo Park, had a small position in SUMO. Then in the Jan-Feb-March quarter, they decided to go "all in" with a buy of 2.8m shares. SUMO is now a top 10 holding for Glynn, larger than their positions in Netflix, Amazon, or Apple. A strong vote of confidence for Sumo.
Tech taking a beating not just this, most of the recent ipo stocks are down quite bad rough day
Why keep going down?
Its great company to hold for the long run I have no idea why the market act the way its act. All of you who is holding it right now and about to sell will be disappointed in the future, I don't find good reason to sell it for the long run...
Its going to $2 per share next week
Good evening, everyone here still from a couple months ago? I’m still holding my 3000 shares long and strong. Looking for 100-150.00 a share to sell.
See you guys @10 bucks!!!
Glynn Capital Management Llc Buys Palantir Technologies Inc, Sumo Logic Inc, Okta Inc, Sells Unity Software Inc
May 04, 2021
Menlo Park, CA, based Investment company Glynn Capital Management Llc (Current Portfolio) buys Palantir Technologies Inc, Sumo Logic Inc, Okta Inc, AppFolio Inc, Shopify Inc, sells Unity Software Inc during the 3-months ended 2021Q1, according to the most recent filings of the investment company, Glynn Capital Management Llc. As of 2021Q1, Glynn Capital Management Llc owns 44 stocks with a total value of $1 billion. These are the details of the buys and sells.
New Purchases: PLTR,
Added Positions: SUMO, OKTA, APPF, SHOP, DOCU, SNOW, DDOG,
Reduced Positions: FTCH, TWLO, TEAM, CRWD, SMAR, COUP, WDAY, SQ, NOW, NFLX, VEEV, ZM,
Sold Out: U,
For the details of GLYNN CAPITAL MANAGEMENT LLC's stock buys and sells
These are the top 5 holdings of GLYNN CAPITAL MANAGEMENT LLC
Farfetch Ltd (FTCH) - 2,069,062 shares, 10.58% of the total portfolio. Shares reduced by 18.86%
Twilio Inc (TWLO) - 184,163 shares, 6.05% of the total portfolio. Shares reduced by 10.07%
DocuSign Inc (DOCU) - 304,483 shares, 5.94% of the total portfolio. Shares added by 10.46%
Okta Inc (OKTA) - 277,741 shares, 5.90% of the total portfolio. Shares added by 62.02%
Shopify Inc (SHOP) - 53,043 shares, 5.66% of the total portfolio. Shares added by 26.31%
New Purchase: Palantir Technologies Inc (PLTR)
Glynn Capital Management Llc initiated holding in Palantir Technologies Inc. The purchase prices were between $21.73 and $39, with an estimated average price of $27.5. The stock is now traded at around $22.421400. The impact to a portfolio due to this purchase was 5.36%. The holding were 2,385,783 shares as of 2021-03-31.
Added: Sumo Logic Inc (SUMO)
Glynn Capital Management Llc added to a holding in Sumo Logic Inc by 1680.77%. The purchase prices were between $17.38 and $40.25, with an estimated average price of $29.37. The stock is now traded at around $18.720000. The impact to a portfolio due to this purchase was 5.04%. The holding were 2,938,274 shares as of 2021-03-31.
Looks like SUMO is heading to $10 - $11. Nothing is holding this stock up.
Short interest was around 9m shares at the start of the year. This dropped to 7m as of mid-March. Data just out for mid-April shows the number is now below 5m. My take - in the first week or so of June there is going to be a very strong earnings report from Sumo for the Feb-March-April quarter, and the shorts are getting out of the way.
PATH IPO'd today and is trading at price to sales in the mid-50's. Backing out their $400m in cash, the price to sales for SUMO is around 6. Both enterprise software companies. Gives you an idea of how undervalued SUMO is.
Why hasn't the earnings reports been announced yet?
Any ideas of upcoming catalysts for this stock? Seems like it's lost all interest over the past weeks. Low volume, little movement and no news from company.
A new analysis of SUMO has recently been posted on the Seeking Alpha web site. Some highlights:
Appetite for large, transformational technology deals appears to be getting back on its feet in 2021. In 2020, few IT departments wanted to take on large transformational projects beyond simply getting through the pandemic and supporting remote work. Now that companies are looking ahead to the future, however, many have determined that their reliance on their technology stack in 2020 necessitates upgrades, and in some cases complete overhauls, of their infrastructure.
Sumo Logic also intends to broaden its go-to-market channels in 2021. One I find particularly promising is an expanded partnership with AWS, giving Sumo Logic a direct link to the world's most-used cloud computing platform.
Wolfe Research analyst Alex Zukin, who recently joined the firm after being head of software research at RBC Capital, is out with a report on enterprise software stocks. According to Zukin, “We believe that the Enterprise Software sector is in the early innings of a durable secular growth renaissance that will largely shape the next decade of tech trends.” Zukin says that most of his covered companies “are entering the year with significantly more visibility in pipelines…and confidence in outperformance against guidance.” Additionally he believes that "first-quarter earnings will generally be very strong." Zukin adds that he expects a busier M&A environment this year, listing Oracle, SAP, Microsoft, Cisco, and IBM as likely shoppers.
wow - 52 week low
we better hold and close in 17(s) today
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