LogMein, Inc. (NASDAQ:LOGM) CFO Edward K. Herdiech sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $109.99, for a total transaction of $164,985.00. Following the sale, the chief financial officer now directly owns 16,717 shares of the company’s stock, valued at $1,838,702.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
LogMein, Inc. (NASDAQ LOGM) opened at 110.30 on Friday. LogMein, Inc. has a 1-year low of $57.81 and a 1-year high of $123.95. The company’s market cap is $5.80 billion. The company’s 50-day moving average is $112.26 and its 200 day moving average is $103.61.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, May 4th. The software maker reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.09. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The company had revenue of $201.10 million during the quarter, compared to analyst estimates of $195.74 million. During the same quarter last year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 152.3% on a year-over-year basis. On average, equities analysts predict that LogMein, Inc. will post $3.87 EPS for the current fiscal year.
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A number of analysts have weighed in on the stock. TheStreet downgraded shares of LogMein from a “b-” rating to a “c” rating in a report on Monday, March 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $150.00 price objective on shares of LogMein in a report on Friday. BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price (up previously from $110.00) on shares of LogMein in a research report on Friday, May 5th. Finally, Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. LogMein has an average rating of “Buy” and a consensus target price of $118.63.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in LogMein by 96,200.0% in the third quarter. Victory Capital Management Inc. now owns 1,992,447 shares of the software maker’s stock worth $180,098,000 after buying an additional 1,990,378 shares during the last quarter. AO Asset Management LLC bought a new position in LogMein during the third quarter worth $10,793,000. Northern Trust Corp raised its position in LogMein by 0.6% in the third quarter. Northern Trust Corp now owns 357,546 shares of the software maker’s stock worth $32,318,000 after buying an additional 2,264 shares during the last quarter. Morgan Stanley raised its position in LogMein by 4,631.4% in the third quarter. Morgan Stanley now owns 299,023 shares of the software maker’s stock worth $27,028,000 after buying an additional 292,703 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in LogMein during the third quarter worth $619,000. 97.45% of the stock is owned by institutional investors and hedge funds.
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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