Legal & General Group Plc Has $5.12 Million Stake in LogMein, Inc. (LOGM)

Legal & General Group Plc lifted its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 12.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,497 shares of the software maker’s stock after purchasing an additional 5,129 shares during the quarter. Legal & General Group Plc owned 0.09% of LogMein worth $5,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its position in shares of LogMein by 45.9% during the 2nd quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock valued at $442,745,000 after buying an additional 1,333,687 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of LogMein by 49.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,564,888 shares of the software maker’s stock valued at $163,531,000 after buying an additional 520,318 shares in the last quarter. American Century Companies Inc. lifted its position in shares of LogMein by 14.4% during the 3rd quarter. American Century Companies Inc. now owns 1,164,447 shares of the software maker’s stock valued at $128,147,000 after buying an additional 146,549 shares in the last quarter. First Trust Advisors LP lifted its position in shares of LogMein by 5.5% during the 3rd quarter. First Trust Advisors LP now owns 894,244 shares of the software maker’s stock valued at $98,412,000 after buying an additional 46,968 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of LogMein by 23.6% during the 2nd quarter. Wells Fargo & Company MN now owns 866,387 shares of the software maker’s stock valued at $90,537,000 after buying an additional 165,690 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

In other LogMein news, insider Christopher Battles sold 1,136 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total value of $135,672.48. Following the completion of the sale, the insider now directly owns 2,760 shares of the company’s stock, valued at approximately $329,626.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

A number of research analysts have recently issued reports on LOGM shares. Cowen reiterated a “buy” rating and set a $134.00 target price on shares of LogMein in a research report on Friday, September 1st. Royal Bank of Canada reiterated a “buy” rating and set a $140.00 target price on shares of LogMein in a research report on Monday, September 4th. Robert W. Baird reiterated a “hold” rating and set a $130.00 target price on shares of LogMein in a research report on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $170.00 target price on shares of LogMein in a research report on Tuesday, October 24th. Finally, Barclays raised their price objective on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $135.96.

LogMein, Inc. (LOGM) opened at $120.45 on Tuesday. The firm has a market capitalization of $6,250.72, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28. LogMein, Inc. has a fifty-two week low of $90.35 and a fifty-two week high of $129.51.

LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The company had revenue of $269.30 million for the quarter, compared to analyst estimates of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The firm’s revenue for the quarter was up 216.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. analysts forecast that LogMein, Inc. will post 3.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.83%. LogMein’s payout ratio is currently 909.17%.

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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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Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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