LogMein, Inc. (LOGM) Stake Increased by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC increased its position in LogMein, Inc. (NASDAQ:LOGM) by 4.4% during the third quarter, Holdings Channel reports. The fund owned 131,409 shares of the company’s stock after buying an additional 5,501 shares during the period. TIAA CREF Investment Management LLC’s holdings in LogMein were worth $11,878,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of LogMein by 0.8% in the second quarter. Arizona State Retirement System now owns 12,937 shares of the company’s stock worth $821,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of LogMein by 0.9% in the third quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the company’s stock worth $1,012,000 after buying an additional 100 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of LogMein by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,170 shares of the company’s stock worth $201,000 after buying an additional 103 shares during the last quarter. Sei Investments Co. raised its position in shares of LogMein by 1.0% in the second quarter. Sei Investments Co. now owns 11,470 shares of the company’s stock worth $727,000 after buying an additional 118 shares during the last quarter. Finally, First Mercantile Trust Co. raised its position in shares of LogMein by 2.8% in the second quarter. First Mercantile Trust Co. now owns 5,300 shares of the company’s stock worth $336,000 after buying an additional 142 shares during the last quarter.
Shares of LogMein, Inc. (NASDAQ:LOGM) opened at 100.25 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of 372.68 and a beta of 1.20. The stock has a 50 day moving average of $100.86 and a 200-day moving average of $87.37. LogMein, Inc. has a one year low of $35.00 and a one year high of $110.10.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. LogMein had a net margin of 2.16% and a return on equity of 13.40%. The firm earned $85.10 million during the quarter, compared to the consensus estimate of $84.29 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. On average, equities analysts forecast that LogMein, Inc. will post $1.99 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Monday, January 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 11th.
A number of brokerages recently weighed in on LOGM. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $120.00 target price on shares of LogMein in a research note on Tuesday, November 22nd. Needham & Company LLC reduced their target price on shares of LogMein from $114.00 to $98.00 and set a “strong-buy” rating for the company in a research note on Friday, October 14th. Robert W. Baird started coverage on shares of LogMein in a research note on Thursday, December 8th. They issued a “neutral” rating and a $108.00 target price for the company. TheStreet cut shares of LogMein from a “buy” rating to a “hold” rating in a research report on Tuesday, December 27th. Finally, Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 29th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. LogMein currently has a consensus rating of “Buy” and an average price target of $92.22.
In other LogMein news, Director Michael K. Simon sold 50,000 shares of LogMein stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $91.65, for a total value of $4,582,500.00. Following the completion of the sale, the director now directly owns 857,948 shares of the company’s stock, valued at $78,630,934.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.
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.
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