Nordea Investment Management AB lessened its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,064 shares of the software maker’s stock after selling 85 shares during the quarter. Nordea Investment Management AB’s holdings in LogMein were worth $1,156,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of LOGM. Penserra Capital Management LLC increased its stake in shares of LogMein by 316.8% during the second quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after acquiring an additional 6,251 shares during the period. Creative Planning increased its stake in shares of LogMein by 0.3% during the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after acquiring an additional 3 shares during the period. M&T Bank Corp acquired a new position in shares of LogMein during the first quarter valued at approximately $202,000. Osborn Williams & Donohoe LLC acquired a new position in shares of LogMein during the second quarter valued at approximately $203,000. Finally, American Capital Management Inc. acquired a new position in shares of LogMein during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 95.41% of the company’s stock.
A number of research analysts recently commented on LOGM shares. Royal Bank Of Canada reiterated a “buy” rating and set a $140.00 price objective on shares of LogMein in a research note on Monday, September 4th. KeyCorp upgraded shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Friday, July 28th. BidaskClub upgraded shares of LogMein from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Robert W. Baird upgraded shares of LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Tuesday, October 3rd. Finally, Cowen and Company restated a “buy” rating and set a $134.00 target price on shares of LogMein in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $131.85.
Shares of LogMein, Inc. (NASDAQ:LOGM) opened at 116.00 on Friday. LogMein, Inc. has a 52 week low of $86.22 and a 52 week high of $123.95. The firm’s market cap is $6.12 billion. The firm’s 50 day moving average is $112.10 and its 200-day moving average is $109.97.
LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The company had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business’s quarterly revenue was up 220.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Equities research analysts predict that LogMein, Inc. will post $4.05 EPS for the current year.
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In related news, Director Steven J. Benson sold 3,016 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total transaction of $336,585.60. Following the completion of the transaction, the director now owns 1,787 shares in the company, valued at $199,429.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Battles sold 721 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the transaction, the insider now owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The disclosure for this sale can be found here. Insiders sold 69,319 shares of company stock valued at $7,922,367 in the last quarter. Corporate 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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