Campbell & CO Investment Adviser LLC bought a new stake in LogMein, Inc. (NASDAQ:LOGM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,330 shares of the software maker’s stock, valued at approximately $243,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOGM. Dimensional Fund Advisors LP raised its position in LogMein by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,057 shares of the software maker’s stock valued at $6,861,000 after buying an additional 22,462 shares during the period. Norges Bank purchased a new position in LogMein during the fourth quarter valued at approximately $16,421,000. Teachers Advisors LLC raised its position in LogMein by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 234,283 shares of the software maker’s stock valued at $22,620,000 after buying an additional 7,814 shares during the period. Creative Planning raised its position in LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Finally, Bank of Montreal Can raised its position in LogMein by 161.7% in the first quarter. Bank of Montreal Can now owns 222,197 shares of the software maker’s stock valued at $21,663,000 after buying an additional 137,291 shares during the period. 95.88% of the stock is currently owned by institutional investors.
LogMein, Inc. (NASDAQ LOGM) traded up 1.93% on Friday, hitting $113.65. The stock had a trading volume of 475,699 shares. The company’s 50 day moving average price is $111.17 and its 200-day moving average price is $106.34. LogMein, Inc. has a 12-month low of $79.63 and a 12-month high of $123.95. The company’s market cap is $5.99 billion.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business’s quarterly revenue was up 220.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Equities research analysts anticipate that LogMein, Inc. will post $4.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, August 7th. LogMein’s payout ratio is -909.01%.
Several research analysts have commented on LOGM shares. TheStreet raised LogMein from a “c” rating to a “b-” rating in a research report on Wednesday, April 19th. Vetr lowered LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a research report on Wednesday, April 26th. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Cowen and Company lifted their price target on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target (up previously from $110.00) on shares of LogMein in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. LogMein presently has a consensus rating of “Buy” and an average target price of $127.74.
In related news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $112.80, for a total value of $2,256,000.00. Following the sale, the director now directly owns 800,102 shares in the company, valued at approximately $90,251,505.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Battles sold 721 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total value of $84,919.38. Following the completion of the sale, the insider now owns 2,036 shares in the company, valued at $239,800.08. The disclosure for this sale can be found here. Insiders have sold a total of 117,500 shares of company stock worth $13,332,517 over the last quarter. 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.
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with MarketBeat.com's FREE daily email newsletter.