LogMeIn Inc (NASDAQ:LOGM) Director Peter John Sacripanti sold 7,124 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ:LOGM traded up $0.55 on Wednesday, hitting $70.55. The stock had a trading volume of 269,740 shares, compared to its average volume of 628,555. The firm’s 50 day moving average price is $70.65 and its 200-day moving average price is $76.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.46 and a current ratio of 0.46. LogMeIn Inc has a twelve month low of $65.11 and a twelve month high of $96.87. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 3.41 and a beta of 1.05.
LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, July 25th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. LogMeIn had a net margin of 1.82% and a return on equity of 7.44%. The business had revenue of $313.10 million during the quarter, compared to analysts’ expectations of $310.98 million. During the same quarter last year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that LogMeIn Inc will post 3.99 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its holdings in shares of LogMeIn by 11.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 24,140 shares of the software maker’s stock worth $1,779,000 after acquiring an additional 2,440 shares in the last quarter. Natixis bought a new stake in LogMeIn during the 2nd quarter worth approximately $2,176,000. Cresset Asset Management LLC grew its position in LogMeIn by 270.6% during the 2nd quarter. Cresset Asset Management LLC now owns 2,954 shares of the software maker’s stock worth $218,000 after acquiring an additional 2,157 shares during the last quarter. Indaba Capital Management L.P. increased its holdings in LogMeIn by 3.6% during the 2nd quarter. Indaba Capital Management L.P. now owns 319,247 shares of the software maker’s stock valued at $23,522,000 after purchasing an additional 10,947 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in LogMeIn during the 2nd quarter valued at $5,448,000. 95.61% of the stock is owned by institutional investors.
A number of research firms have recently commented on LOGM. Stephens reaffirmed an “equal weight” rating and set a $77.00 price objective on shares of LogMeIn in a report on Thursday, August 22nd. Zacks Investment Research raised shares of LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research note on Wednesday, July 31st. Northland Securities reissued a “buy” rating on shares of LogMeIn in a research report on Friday, July 26th. BidaskClub cut shares of LogMeIn from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird set a $85.00 price target on shares of LogMeIn and gave the stock a “hold” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $91.11.
LogMeIn Company 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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