Fisher Asset Management LLC raised its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,222 shares of the software maker’s stock after buying an additional 35 shares during the period. Fisher Asset Management LLC owned about 0.12% of LogMein worth $6,711,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of LogMein by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,057 shares of the software maker’s stock worth $6,861,000 after buying an additional 22,462 shares during the last quarter. Norges Bank purchased a new stake in shares of LogMein during the fourth quarter worth approximately $16,421,000. Vident Investment Advisory LLC purchased a new stake in shares of LogMein during the fourth quarter worth approximately $318,000. Teachers Advisors LLC raised its stake in shares of LogMein by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 234,283 shares of the software maker’s stock worth $22,620,000 after buying an additional 7,814 shares during the last quarter. Finally, Creative Planning raised its stake in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock worth $112,000 after buying an additional 673 shares during the last quarter. 96.30% of the stock is currently owned by institutional investors.
Shares of LogMein, Inc. (LOGM) opened at 113.25 on Thursday. LogMein, Inc. has a one year low of $61.82 and a one year high of $123.95. The company’s market capitalization is $5.96 billion. The firm’s 50-day moving average price is $109.67 and its 200-day moving average price is $104.90.
LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, May 4th. The software maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.09. LogMein had a negative net margin of 3.35% and a positive return on equity of 5.66%. The firm had revenue of $201.10 million during the quarter, compared to analyst estimates of $195.74 million. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue was up 152.3% on a year-over-year basis. Analysts anticipate that LogMein, Inc. will post $3.87 earnings per share for the current year.
LOGM has been the subject of a number of research analyst reports. TheStreet lowered LogMein from a “b-” rating to a “c” rating in a research report on Monday, March 27th. Cowen and Company raised LogMein from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $115.00 in a research report on Friday, April 7th. Vetr lowered LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price for the company. in a research report on Wednesday, April 26th. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 target price (up from $110.00) on shares of LogMein in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $118.63.
In other news, insider Christopher Battles sold 2,572 shares of LogMein stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $114.06, for a total transaction of $293,362.32. Following the completion of the transaction, the insider now directly owns 2,790 shares in the company, valued at $318,227.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James Lok sold 640 shares of LogMein stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $116.05, for a total transaction of $74,272.00. Following the transaction, the senior vice president now owns 3,709 shares of the company’s stock, valued at $430,429.45. The disclosure for this sale can be found here. Insiders have sold 107,081 shares of company stock valued at $12,073,839 over the last quarter. Company insiders own 2.50% of the company’s stock.
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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