Fox Run Management L.L.C. Invests $449,000 in LogMein, Inc. (NASDAQ:LOGM)
Fox Run Management L.L.C. purchased a new stake in shares of LogMein, Inc. (NASDAQ:LOGM) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,300 shares of the software maker’s stock, valued at approximately $449,000.
Other institutional investors have also recently made changes to their positions in the company. Nikko Asset Management Americas Inc. purchased a new position in shares of LogMein during the first quarter valued at about $105,000. Creative Planning increased its position in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Amica Pension Fund Board of Trustees purchased a new position in shares of LogMein during the first quarter valued at about $151,000. Amica Mutual Insurance Co. purchased a new position in shares of LogMein during the first quarter valued at about $152,000. Finally, Fortaleza Asset Management Inc. purchased a new position in shares of LogMein during the first quarter valued at about $172,000. 96.71% of the stock is owned by institutional investors.
Shares of LogMein, Inc. (NASDAQ LOGM) opened at 110.30 on Friday. LogMein, Inc. has a 12 month low of $59.06 and a 12 month high of $123.95. The company’s market capitalization is $5.80 billion. The firm has a 50-day moving average of $110.96 and a 200 day moving average of $103.95.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, May 4th. The software maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.53 by $0.09. The company had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $195.74 million. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The business’s revenue for the quarter was up 152.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, equities research analysts expect that LogMein, Inc. will post $3.87 earnings per share for the current fiscal year.
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LOGM has been the subject of several analyst reports. TheStreet raised shares of LogMein from a “c” rating to a “b-” rating in a report on Wednesday, April 19th. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective (up from $110.00) on shares of LogMein in a research note on Friday, May 5th. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, Cowen and Company lifted their price objective on shares of LogMein from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $118.63.
In related news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $113.93, for a total value of $2,278,600.00. Following the transaction, the director now owns 795,883 shares in the company, valued at $90,674,950.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Calderoni sold 12,197 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $116.02, for a total value of $1,415,095.94. Following the completion of the transaction, the director now owns 4,109 shares in the company, valued at approximately $476,726.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,081 shares of company stock worth $12,073,839. 2.50% of the stock is 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 core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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