LogMein Inc. (NASDAQ:LOGM)’s share price dropped 3.3% during mid-day trading on Thursday . The company traded as low as $62.13 and last traded at $62.34, with a volume of 75,568 shares traded. The stock had previously closed at $64.50.

LOGM has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of LogMein from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Thursday, May 5th. Dougherty & Co raised their price target on shares of LogMein from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, April 29th. Royal Bank Of Canada raised their price target on shares of LogMein from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. Cowen and Company cut shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research report on Tuesday, July 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price target (up previously from $57.00) on shares of LogMein in a research report on Sunday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. LogMein presently has an average rating of “Buy” and a consensus price target of $73.27.

The stock has a 50 day moving average of $62.74 and a 200 day moving average of $55.59. The company has a market capitalization of $1.61 billion and a P/E ratio of 125.67.

LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. During the same quarter in the prior year, the firm earned $0.33 EPS. The company had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.76 million. LogMein’s quarterly revenue was up 30.4% compared to the same quarter last year. Equities research analysts expect that LogMein Inc. will post $1.88 earnings per share for the current year.

In related news, CFO Edward K. Herdiech sold 4,737 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $60.21, for a total transaction of $285,214.77. Following the sale, the chief financial officer now owns 5,134 shares of the company’s stock, valued at $309,118.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO W. Sean Ford sold 7,881 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $60.70, for a total transaction of $478,376.70. The disclosure for this sale can be found here.

A number of large investors have bought and sold shares of the company. Nationwide Fund Advisors raised its stake in LogMein by 0.8% in the fourth quarter. Nationwide Fund Advisors now owns 31,676 shares of the company’s stock valued at $2,125,000 after buying an additional 250 shares during the last quarter. Comerica Bank raised its stake in LogMein by 1.3% in the fourth quarter. Comerica Bank now owns 25,607 shares of the company’s stock valued at $1,454,000 after buying an additional 318 shares during the last quarter. California State Teachers Retirement System raised its stake in LogMein by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 45,673 shares of the company’s stock valued at $3,065,000 after buying an additional 700 shares during the last quarter. Rhumbline Advisers raised its stake in LogMein by 7.4% in the fourth quarter. Rhumbline Advisers now owns 30,121 shares of the company’s stock valued at $2,021,000 after buying an additional 2,075 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in LogMein by 7.2% in the fourth quarter. New York State Common Retirement Fund now owns 51,536 shares of the company’s stock valued at $3,458,000 after buying an additional 3,461 shares during the last quarter.

LogMeIn, Inc provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things, all of which are accessible with an Internet connection.

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