LogMeIn Inc (LOGM) SVP Sells $543,618.40 in Stock
LogMeIn Inc (NASDAQ:LOGM) SVP Lawrence M. D’angelo sold 5,008 shares of LogMeIn stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $108.55, for a total transaction of $543,618.40. Following the completion of the transaction, the senior vice president now directly owns 7,072 shares of the company’s stock, valued at $767,665.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of NASDAQ:LOGM opened at $108.60 on Friday. The stock has a market capitalization of $5.72 billion, a P/E ratio of 32.42, a PEG ratio of 1.51 and a beta of 1.39. LogMeIn Inc has a fifty-two week low of $103.00 and a fifty-two week high of $134.80.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, April 26th. The software maker reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.03. The firm had revenue of $280.30 million for the quarter, compared to the consensus estimate of $277.43 million. LogMeIn had a net margin of 13.67% and a return on equity of 6.31%. LogMeIn’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. equities analysts predict that LogMeIn Inc will post 4.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Wednesday, May 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.10%. LogMeIn’s dividend payout ratio (DPR) is 35.82%.
Several hedge funds have recently added to or reduced their stakes in LOGM. Farallon Capital Management LLC bought a new stake in shares of LogMeIn during the 1st quarter worth about $201,731,000. Bessemer Group Inc. raised its position in shares of LogMeIn by 346,435.8% during the 4th quarter. Bessemer Group Inc. now owns 571,784 shares of the software maker’s stock worth $65,470,000 after buying an additional 571,619 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of LogMeIn by 31.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,005,473 shares of the software maker’s stock worth $229,626,000 after buying an additional 483,790 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LogMeIn by 30.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,915,622 shares of the software maker’s stock worth $219,338,000 after buying an additional 446,395 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of LogMeIn during the 4th quarter worth about $41,777,000. Institutional investors own 99.84% of the company’s stock.
Several analysts recently weighed in on LOGM shares. ValuEngine downgraded shares of LogMeIn from a “hold” rating to a “sell” rating in a research report on Friday, April 27th. BidaskClub upgraded shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 15th. TheStreet downgraded shares of LogMeIn from a “b” rating to a “c+” rating in a research report on Thursday, April 26th. Barclays cut their price objective on shares of LogMeIn from $142.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, April 27th. Finally, Mizuho started coverage on shares of LogMeIn in a research report on Monday, April 2nd. They issued a “buy” rating and a $145.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $142.56.
LogMeIn Company Profile
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.