Insider Selling: Logitech International (NASDAQ:LOGI) Insider Sells $1,648,457.75 in Stock

Logitech International S.A. (NASDAQ:LOGI) insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Logitech International Stock Performance

Logitech International stock opened at $99.53 on Thursday. The stock has a market cap of $14.59 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 3.73 and a beta of 1.18. The stock has a 50-day moving average of $101.76 and a two-hundred day moving average of $100.82. Logitech International S.A. has a one year low of $83.32 and a one year high of $129.66.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Logitech International S.A. will post 5.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LOGI shares. Morgan Stanley dropped their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a report on Tuesday, June 30th. Barclays lowered their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Wedbush cut their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Logitech International has an average rating of “Hold” and a consensus price target of $105.29.

Institutional Investors Weigh In On Logitech International

A number of large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in Logitech International by 8.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,155 shares of the technology company’s stock worth $1,049,000 after buying an additional 878 shares during the last quarter. Engineers Gate Manager LP lifted its stake in Logitech International by 44.2% during the 2nd quarter. Engineers Gate Manager LP now owns 29,739 shares of the technology company’s stock valued at $2,797,000 after acquiring an additional 9,119 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Logitech International in the 2nd quarter valued at $115,000. IFP Advisors Inc boosted its holdings in shares of Logitech International by 163.8% in the 2nd quarter. IFP Advisors Inc now owns 3,400 shares of the technology company’s stock valued at $320,000 after acquiring an additional 2,111 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Logitech International in the 2nd quarter valued at $227,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.