D.A. Davidson & CO. grew its position in LogMeIn Inc (NASDAQ:LOGM) by 31.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,253 shares of the software maker’s stock after purchasing an additional 1,498 shares during the period. D.A. Davidson & CO.’s holdings in LogMeIn were worth $510,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Diversified Trust Co increased its holdings in shares of LogMeIn by 4.2% during the 4th quarter. Diversified Trust Co now owns 4,721 shares of the software maker’s stock valued at $385,000 after acquiring an additional 189 shares during the last quarter. We Are One Seven LLC increased its holdings in shares of LogMeIn by 16.5% during the 4th quarter. We Are One Seven LLC now owns 2,823 shares of the software maker’s stock valued at $230,000 after acquiring an additional 399 shares during the last quarter. Smith Asset Management Group LP increased its holdings in shares of LogMeIn by 3.4% during the 3rd quarter. Smith Asset Management Group LP now owns 20,773 shares of the software maker’s stock valued at $1,851,000 after acquiring an additional 690 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of LogMeIn by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,592 shares of the software maker’s stock valued at $1,122,000 after acquiring an additional 696 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of LogMeIn by 853.7% during the 4th quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock valued at $63,000 after acquiring an additional 700 shares during the last quarter. 97.17% of the stock is currently owned by institutional investors.
In related news, Director Michael K. Simon sold 20,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $92.37, for a total transaction of $1,847,400.00. Following the completion of the sale, the director now owns 588,889 shares in the company, valued at approximately $54,395,676.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on LOGM shares. Zacks Investment Research lowered LogMeIn from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Piper Jaffray Companies lowered their price objective on LogMeIn from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a report on Thursday, November 22nd. ValuEngine raised LogMeIn from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Finally, Stephens initiated coverage on LogMeIn in a research note on Thursday, January 3rd. They set an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. LogMeIn presently has an average rating of “Buy” and an average price target of $110.10.
Shares of NASDAQ:LOGM opened at $93.98 on Friday. LogMeIn Inc has a twelve month low of $74.87 and a twelve month high of $134.80. The company has a market cap of $4.75 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.07.
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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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