Royal Bank of Canada Cuts Holdings in LogMeIn Inc (NASDAQ:LOGM)

Royal Bank of Canada trimmed its holdings in shares of LogMeIn Inc (NASDAQ:LOGM) by 32.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,660 shares of the software maker’s stock after selling 8,613 shares during the quarter. Royal Bank of Canada’s holdings in LogMeIn were worth $1,302,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stonebridge Capital Advisors LLC purchased a new position in LogMeIn during the second quarter valued at approximately $33,000. CSat Investment Advisory L.P. purchased a new position in LogMeIn during the second quarter valued at approximately $100,000. Shepherd Kaplan Krochuk LLC purchased a new position in LogMeIn during the second quarter valued at approximately $221,000. Qube Research & Technologies Ltd purchased a new position in LogMeIn during the second quarter valued at approximately $233,000. Finally, Tower Research Capital LLC TRC increased its holdings in LogMeIn by 223.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,504 shares of the software maker’s stock valued at $258,000 after buying an additional 2,421 shares during the period. 95.59% of the stock is currently owned by institutional investors.

In other news, Director Peter John Sacripanti sold 7,124 shares of LogMeIn stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total transaction of $498,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Benson sold 1,000 shares of LogMeIn stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $66.96, for a total transaction of $66,960.00. Following the sale, the director now owns 2,223 shares of the company’s stock, valued at $148,852.08. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Shares of LOGM opened at $67.65 on Monday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 3.45 and a beta of 1.09. LogMeIn Inc has a twelve month low of $65.04 and a twelve month high of $96.87. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $68.83 and a two-hundred day moving average of $73.89.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, July 25th. The software maker reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. The company had revenue of $313.10 million during the quarter, compared to the consensus estimate of $310.98 million. LogMeIn had a net margin of 1.82% and a return on equity of 7.44%. LogMeIn’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.32 earnings per share. On average, sell-side analysts expect that LogMeIn Inc will post 4.02 EPS for the current year.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective on the stock in a report on Wednesday, July 31st. Robert W. Baird set a $85.00 target price on shares of LogMeIn and gave the company a “hold” rating in a research note on Friday, July 26th. BidaskClub downgraded shares of LogMeIn from a “sell” rating to a “strong sell” rating in a research note on Friday, October 4th. ValuEngine upgraded shares of LogMeIn from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Northland Securities restated a “buy” rating on shares of LogMeIn in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. LogMeIn presently has a consensus rating of “Hold” and an average target price of $91.22.

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.

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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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