LogMein Inc. (LOGM) Position Raised by Strs Ohio
Strs Ohio increased its stake in LogMein Inc. (NASDAQ:LOGM) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 16,900 shares of the company’s stock after buying an additional 900 shares during the period. Strs Ohio’s holdings in LogMein were worth $1,071,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in LogMein by 43.0% in the first quarter. Renaissance Technologies LLC now owns 901,000 shares of the company’s stock valued at $45,464,000 after buying an additional 270,800 shares in the last quarter. Bank of Montreal Can bought a new stake in LogMein during the second quarter valued at approximately $15,298,000. Goldman Sachs Group Inc. boosted its stake in LogMein by 130.9% in the first quarter. Goldman Sachs Group Inc. now owns 107,086 shares of the company’s stock valued at $5,404,000 after buying an additional 60,706 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in LogMein by 88.9% in the first quarter. Panagora Asset Management Inc. now owns 104,985 shares of the company’s stock valued at $5,298,000 after buying an additional 49,416 shares in the last quarter. Finally, Friess Associates LLC boosted its stake in LogMein by 25.3% in the first quarter. Friess Associates LLC now owns 144,124 shares of the company’s stock valued at $7,272,000 after buying an additional 29,124 shares in the last quarter.
Shares of LogMein Inc. (NASDAQ:LOGM) traded up 0.07% during trading on Friday, reaching $89.61. 191,458 shares of the company were exchanged. LogMein Inc. has a one year low of $35.00 and a one year high of $95.99. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 176.05 and a beta of 1.37. The company has a 50 day moving average price of $89.73 and a 200-day moving average price of $70.18.
LogMein (NASDAQ:LOGM) last posted its earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The business earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. During the same period in the prior year, the business earned $0.35 EPS. LogMein’s revenue for the quarter was up 28.4% compared to the same quarter last year. Equities analysts predict that LogMein Inc. will post $1.93 EPS for the current year.
Several analysts recently commented on LOGM shares. TheStreet upgraded shares of LogMein from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Cowen and Company cut shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a report on Tuesday, July 5th. Zacks Investment Research cut shares of LogMein from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Barclays PLC lifted their target price on shares of LogMein from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 15th. Finally, JPMorgan Chase & Co. upgraded shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price for the company in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. LogMein currently has an average rating of “Buy” and an average target price of $84.22.
In related news, Director Marilyn Matz sold 500 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $83.20, for a total transaction of $41,600.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company’s stock, valued at approximately $162,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Donahue sold 4,137 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $80.13, for a total value of $331,497.81. Following the sale, the senior vice president now directly owns 8,137 shares of the company’s stock, valued at $652,017.81. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
Want to see what other hedge funds are holding LOGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LogMein Inc. (NASDAQ:LOGM).
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with MarketBeat.com's FREE daily email newsletter.