Alyeska Investment Group L.P. trimmed its position in LogMein, Inc. (NASDAQ:LOGM) by 51.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,112 shares of the software maker’s stock after selling 252,760 shares during the quarter. Alyeska Investment Group L.P. owned about 0.45% of LogMein worth $26,314,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of LogMein by 0.3% in the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after acquiring an additional 3 shares during the last quarter. Renaissance Group LLC lifted its holdings in shares of LogMein by 0.9% in the 2nd quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock worth $360,000 after acquiring an additional 32 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of LogMein by 1.8% in the 2nd quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock worth $219,000 after acquiring an additional 37 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of LogMein by 1.5% in the 2nd quarter. D.A. Davidson & CO. now owns 4,127 shares of the software maker’s stock worth $431,000 after acquiring an additional 61 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of LogMein by 4.0% in the 2nd quarter. Advisor Group Inc. now owns 3,236 shares of the software maker’s stock worth $335,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 99.32% of the company’s stock.
In related news, Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $111.93, for a total transaction of $2,238,600.00. Following the sale, the director now directly owns 765,579 shares in the company, valued at $85,691,257.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,152 shares of company stock worth $2,710,858. 2.50% of the stock is owned by insiders.
LOGM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a report on Wednesday, November 1st. Cowen restated a “buy” rating and issued a $145.00 price objective on shares of LogMein in a report on Sunday, October 29th. Piper Jaffray Companies restated a “buy” rating and issued a $170.00 price objective on shares of LogMein in a report on Tuesday, October 24th. Royal Bank Of Canada restated a “buy” rating and issued a $140.00 price objective on shares of LogMein in a report on Monday, September 4th. Finally, Robert W. Baird restated a “hold” rating and issued a $130.00 price objective on shares of LogMein in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $135.96.
Shares of LogMein, Inc. (NASDAQ:LOGM) opened at $117.00 on Friday. LogMein, Inc. has a 52 week low of $90.35 and a 52 week high of $129.51. The firm has a market cap of $6,066.49, a P/E ratio of 43.00, a P/E/G ratio of 2.01 and a beta of 1.28.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.05. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The firm had revenue of $269.30 million for the quarter, compared to the consensus estimate of $270.56 million. During the same period in the prior year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 216.5% on a year-over-year basis. analysts predict that LogMein, Inc. will post 3.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Tuesday, November 7th. LogMein’s payout ratio is currently 909.17%.
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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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