LogMein Inc. (LOGM) Trading 3% Higher
LogMein Inc. (NASDAQ:LOGM) traded up 3% on Thursday . The stock traded as high as $86.26 and last traded at $86.04, with a volume of 358,289 shares traded. The stock had previously closed at $83.50.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of LogMein from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Needham & Company LLC increased their target price on shares of LogMein from $81.00 to $98.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. raised shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price for the company in a research report on Wednesday, July 27th. Barclays PLC increased their target price on shares of LogMein from $57.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reissued an “overweight” rating on shares of LogMein in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. LogMein presently has a consensus rating of “Buy” and an average target price of $77.44.
The firm has a 50 day moving average price of $79.10 and a 200-day moving average price of $61.95. The firm has a market cap of $2.23 billion and a PE ratio of 173.30.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. During the same quarter last year, the firm posted $0.35 EPS. The business earned $83.30 million during the quarter, compared to analyst estimates of $81.80 million. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. Equities research analysts forecast that LogMein Inc. will post $1.93 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 8th were issued a $0.50 dividend. The ex-dividend date was Thursday, August 4th.
In other LogMein news, Director Michael K. Simon sold 11,296 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 777,104 shares in the company, valued at approximately $48,584,542.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael K. Simon sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the transaction, the director now owns 819,824 shares of the company’s stock, valued at approximately $68,807,828.32. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in LogMein stock. Principal Financial Group Inc. boosted its stake in LogMein Inc. (NASDAQ:LOGM) by 5.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 170,872 shares of the company’s stock after buying an additional 8,402 shares during the period. Principal Financial Group Inc. owned about 0.68% of LogMein worth $11,465,000 at the end of the most recent quarter.
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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