Christopher Battles Sells 1,136 Shares of LogMein, Inc. (LOGM) Stock
LogMein, Inc. (NASDAQ:LOGM) insider Christopher Battles sold 1,136 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 2,760 shares in the company, valued at approximately $329,626.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
LogMein, Inc. (NASDAQ:LOGM) opened at $122.75 on Friday. The firm has a market capitalization of $6.47 billion, a PE ratio of 45.86, a P/E/G ratio of 2.14 and a beta of 1.34.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $269.30 million during 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 quarterly revenue was up 216.5% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. sell-side analysts anticipate that LogMein, Inc. will post 3.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 7th. LogMein’s payout ratio is currently 909.17%.
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Several research analysts recently commented on LOGM shares. BidaskClub cut LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company restated a “buy” rating and set a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. Robert W. Baird restated a “hold” rating and set a $130.00 price objective on shares of LogMein in a research note on Friday, September 1st. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Wednesday. Finally, Barclays PLC upped their price objective on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. LogMein has a consensus rating of “Buy” and a consensus price target of $135.96.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in shares of LogMein by 316.8% during the 2nd quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock worth $104,000 after acquiring an additional 6,251 shares in the last quarter. Creative Planning boosted its stake in shares of LogMein by 0.3% during the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after acquiring an additional 3 shares in the last quarter. Reliance Trust Co. of Delaware bought a new stake in shares of LogMein during the 3rd quarter worth $201,000. Osborn Williams & Donohoe LLC bought a new stake in shares of LogMein during the 2nd quarter worth $203,000. Finally, American Capital Management Inc. bought a new stake in shares of LogMein during the 2nd quarter worth $203,000. 95.68% 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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