RK Capital Management LLC decreased its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 17.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,516 shares of the software maker’s stock after selling 23,800 shares during the quarter. LogMein makes up 2.4% of RK Capital Management LLC’s holdings, making the stock its 14th largest holding. RK Capital Management LLC owned 0.21% of LogMein worth $11,758,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of LogMein by 0.3% during the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after buying an additional 3 shares in the last quarter. American Capital Management Inc. purchased a new position in shares of LogMein during the 2nd quarter valued at $203,000. Osborn Williams & Donohoe LLC purchased a new position in shares of LogMein during the 2nd quarter valued at $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of LogMein by 102.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock valued at $190,000 after buying an additional 985 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of LogMein during the 2nd quarter valued at $208,000. Institutional investors own 95.69% of the company’s stock.
A number of research analysts recently weighed in on the stock. Piper Jaffray Companies restated an “overweight” rating and set a $170.00 target price on shares of LogMein in a research note on Wednesday, August 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $140.00 price target on shares of LogMein in a report on Monday, September 4th. Cowen and Company reiterated an “outperform” rating and issued a $134.00 price target (up from $130.00) on shares of LogMein in a report on Sunday, July 30th. Robert W. Baird reiterated a “hold” rating and issued a $130.00 price target on shares of LogMein in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $131.85.
Shares of LogMein, Inc. (NASDAQ:LOGM) traded down 0.31% during trading on Friday, reaching $111.20. 650,664 shares of the company traded hands. The firm has a 50 day moving average of $113.77 and a 200 day moving average of $108.51. LogMein, Inc. has a 52 week low of $86.22 and a 52 week high of $123.95. The stock’s market capitalization is $5.86 billion.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. During the same period last year, the business earned $0.49 earnings per share. LogMein’s revenue was up 220.6% compared to the same quarter last year. On average, equities analysts predict that LogMein, Inc. will post $4.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 7th. LogMein’s payout ratio is currently -909.01%.
In related news, CFO Edward K. Herdiech sold 6,354 shares of LogMein stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $117.66, for a total value of $747,611.64. Following the completion of the transaction, the chief financial officer now owns 13,695 shares in the company, valued at $1,611,353.70. The sale 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 LogMein stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the completion of the transaction, the director now owns 790,977 shares of the company’s stock, valued at approximately $92,014,354.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,319 shares of company stock valued at $7,922,367. 2.50% of the stock is owned by company insiders.
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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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