Cubist Systematic Strategies LLC increased its position in LogMeIn Inc (NASDAQ:LOGM) by 76.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,273 shares of the software maker’s stock after acquiring an additional 7,457 shares during the period. Cubist Systematic Strategies LLC’s holdings in LogMeIn were worth $1,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LOGM. Prudential Financial Inc. raised its holdings in LogMeIn by 347.6% in the 1st quarter. Prudential Financial Inc. now owns 158,280 shares of the software maker’s stock worth $18,290,000 after acquiring an additional 122,921 shares during the last quarter. Swiss National Bank raised its holdings in LogMeIn by 2.1% in the 1st quarter. Swiss National Bank now owns 91,800 shares of the software maker’s stock worth $10,607,000 after acquiring an additional 1,900 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in LogMeIn by 15.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 180,225 shares of the software maker’s stock worth $20,825,000 after acquiring an additional 24,437 shares during the last quarter. Aperio Group LLC raised its holdings in LogMeIn by 10.3% in the 1st quarter. Aperio Group LLC now owns 39,361 shares of the software maker’s stock worth $4,548,000 after acquiring an additional 3,674 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in LogMeIn by 4.2% during the 1st quarter. Thrivent Financial for Lutherans now owns 11,956 shares of the software maker’s stock valued at $1,382,000 after buying an additional 480 shares during the last quarter. Institutional investors own 98.74% of the company’s stock.

Shares of LOGM opened at $84.95 on Friday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 1.17 and a beta of 1.09. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.07. LogMeIn Inc has a 1-year low of $77.05 and a 1-year high of $134.80.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, July 26th. The software maker reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $305.13 million. LogMeIn had a net margin of 12.34% and a return on equity of 6.75%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. sell-side analysts expect that LogMeIn Inc will post 4.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Wednesday, August 8th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.41%. LogMeIn’s dividend payout ratio (DPR) is 35.82%.

A number of equities research analysts have weighed in on the stock. Piper Jaffray Companies lowered shares of LogMeIn from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $95.00 in a research note on Friday, July 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $96.00 target price (down from $145.00) on shares of LogMeIn in a research note on Friday, July 27th. KeyCorp decreased their target price on shares of LogMeIn from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Needham & Company LLC decreased their target price on shares of LogMeIn from $135.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, ValuEngine lowered shares of LogMeIn from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $117.90.

In other news, insider Christopher Battles sold 2,530 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $81.13, for a total value of $205,258.90. Following the completion of the sale, the insider now directly owns 5,468 shares in the company, valued at approximately $443,618.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $80.92, for a total value of $1,618,400.00. Following the completion of the sale, the director now owns 664,053 shares of the company’s stock, valued at $53,735,168.76. The disclosure for this sale can be found here. Insiders sold a total of 62,790 shares of company stock valued at $5,190,442 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

LogMeIn 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.

Featured Article: What is the Book Value of a Share?

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).

Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

Receive News & Ratings for LogMeIn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMeIn and related companies with MarketBeat.com's FREE daily email newsletter.