Essex Investment Management Co. LLC increased its stake in LogMein, Inc. (NASDAQ:LOGM) by 27.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,388 shares of the software maker’s stock after buying an additional 3,946 shares during the period. Essex Investment Management Co. LLC’s holdings in LogMein were worth $1,922,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Creative Planning raised its stake in LogMein by 0.3% in the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after buying an additional 3 shares during the period. Diversified Trust Co raised its stake in LogMein by 1.0% in the first quarter. Diversified Trust Co now owns 2,726 shares of the software maker’s stock valued at $266,000 after buying an additional 26 shares during the period. Cadence Capital Management LLC raised its stake in LogMein by 0.8% in the first quarter. Cadence Capital Management LLC now owns 5,452 shares of the software maker’s stock valued at $532,000 after buying an additional 42 shares during the period. Great West Life Assurance Co. Can raised its stake in LogMein by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 31,409 shares of the software maker’s stock valued at $3,280,000 after buying an additional 236 shares during the period. Finally, Marcus Capital LLC raised its stake in LogMein by 1.9% in the first quarter. Marcus Capital LLC now owns 15,750 shares of the software maker’s stock valued at $1,536,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 97.39% of the company’s stock.
LogMein, Inc. (LOGM) opened at 113.50 on Friday. The firm’s market cap is $5.98 billion. The stock’s 50 day moving average price is $112.29 and its 200 day moving average price is $106.70. LogMein, Inc. has a 52 week low of $79.63 and a 52 week high of $123.95.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The firm had revenue of $266.95 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. On average, equities research analysts predict that LogMein, Inc. will post $4.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, August 7th. LogMein’s dividend payout ratio is -909.01%.
Several brokerages have commented on LOGM. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target (up from $110.00) on shares of LogMein in a research report on Friday, May 5th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $170.00 price target on shares of LogMein in a research report on Wednesday, August 9th. Cowen and Company restated an “outperform” rating and set a $134.00 price objective (up from $130.00) on shares of LogMein in a research report on Sunday, July 30th. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $127.74.
In related news, insider W. Sean Ford sold 1,764 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $111.27, for a total value of $196,280.28. Following the completion of the sale, the insider now directly owns 3,334 shares of the company’s stock, valued at approximately $370,974.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Raymond Wagner sold 4,588 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $116.30, for a total value of $533,584.40. Following the completion of the sale, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at $8,087,734.60. The disclosure for this sale can be found here. Insiders sold a total of 116,860 shares of company stock worth $13,258,245 over the last three months. 2.50% of the stock is owned by company insiders.
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.
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