Traders Sell Shares of LogMein Inc. (LOGM) on Strength (LOGM)
Traders sold shares of LogMein Inc. (NASDAQ:LOGM) on strength during trading on Thursday. $27.13 million flowed into the stock on the tick-up and $40.14 million flowed out of the stock on the tick-down, for a money net flow of $13.01 million out of the stock. Of all companies tracked, LogMein had the 0th highest net out-flow for the day. LogMein traded up $2.10 for the day and closed at $85.72
Several brokerages recently weighed in on LOGM. Dougherty & Co increased their price objective on LogMein from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 29th. Piper Jaffray Cos. reiterated a “buy” rating on shares of LogMein in a research report on Thursday, April 28th. Needham & Company LLC upped their price target on LogMein from $81.00 to $98.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Barclays PLC upped their price target on LogMein from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, April 29th. Finally, Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. LogMein currently has an average rating of “Buy” and an average price target of $77.90.
The firm has a market cap of $2.15 billion and a P/E ratio of 168.41. The firm’s 50 day moving average price is $64.22 and its 200-day moving average price is $56.09.
LogMein (NASDAQ:LOGM) last released its earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. The firm’s revenue was up 28.4% on a year-over-year basis. On average, equities analysts predict that LogMein Inc. will post $1.93 EPS for the current year.
The company also recently announced a dividend, which will be paid on Friday, August 26th. Shareholders of record on Monday, August 8th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 4th.
In other news, Director Michael K. Simon sold 11,296 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $62.52, for a total transaction of $706,225.92. Following the completion of the sale, the director now directly owns 777,104 shares of the company’s stock, valued at approximately $48,584,542.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Hughes sold 1,638 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $58.78, for a total transaction of $96,281.64. Following the sale, the director now directly owns 6,376 shares of the company’s stock, valued at $374,781.28. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in LOGM. Wells Fargo & Company MN boosted its stake in shares of LogMein by 291.1% in the fourth quarter. Wells Fargo & Company MN now owns 334,576 shares of the company’s stock valued at $22,449,000 after buying an additional 249,021 shares in the last quarter. Nichols Asset Management LLC boosted its stake in shares of LogMein by 105.1% in the fourth quarter. Nichols Asset Management LLC now owns 130,801 shares of the company’s stock worth $8,777,000 after buying an additional 67,030 shares during the period. Bailard Inc. acquired a new stake in shares of LogMein during the fourth quarter worth $1,042,000. Russell Frank Co boosted its stake in shares of LogMein by 13.6% in the fourth quarter. Russell Frank Co now owns 91,335 shares of the company’s stock worth $6,293,000 after buying an additional 10,908 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of LogMein by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 170,872 shares of the company’s stock worth $11,465,000 after buying an additional 8,402 shares during the period.
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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