I have a few suggestions:
1. Possibly try lengthening your underlay stitches. If the underlay stitches are too close together it can pull that type of material.
2. Also, you may want solvy. It helps hold the stitches in place.
3. One last thing to try is not to put your hoop as tight as usual. What happens when the hoop is tight on that material then when you take it off the material is stretched out and then pulls inward creating that bunching and puckering around the logo.
Hope one of those are helpful