LogMein, Inc. (LOGM) Director Michael K. Simon Sells 20,000 Shares
LogMein, Inc. (NASDAQ:LOGM) Director Michael K. Simon sold 20,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the completion of the sale, the director now directly owns 790,977 shares of the company’s stock, valued at approximately $92,014,354.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of LogMein, Inc. (LOGM) traded down 0.55% during midday trading on Wednesday, hitting $116.50. 481,721 shares of the company were exchanged. The stock’s market cap is $6.14 billion. The stock’s 50-day moving average is $110.36 and its 200-day moving average is $105.97. LogMein, Inc. has a one year low of $79.63 and a one year high of $123.95.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. During the same quarter last year, the firm earned $0.49 EPS. LogMein’s quarterly revenue was up 220.6% compared to the same quarter last year. Equities research analysts anticipate that LogMein, Inc. will post $4.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, August 7th. LogMein’s payout ratio is -909.01%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department purchased a new position in LogMein during the second quarter valued at $3,135,000. Cim LLC raised its position in LogMein by 49.9% in the second quarter. Cim LLC now owns 8,001 shares of the software maker’s stock valued at $836,000 after buying an additional 2,662 shares during the last quarter. Cipher Capital LP purchased a new position in LogMein during the second quarter valued at $451,000. Swiss National Bank raised its position in LogMein by 0.8% in the second quarter. Swiss National Bank now owns 87,700 shares of the software maker’s stock valued at $9,165,000 after buying an additional 700 shares during the last quarter. Finally, Commerce Bank raised its position in LogMein by 14.8% in the second quarter. Commerce Bank now owns 264,489 shares of the software maker’s stock valued at $27,639,000 after buying an additional 34,024 shares during the last quarter. 95.88% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price (up previously from $110.00) on shares of LogMein in a research report on Friday, May 5th. Cowen and Company reissued an “outperform” rating and issued a $134.00 target price (up previously from $130.00) on shares of LogMein in a research report on Sunday, July 30th. Zacks Investment Research downgraded shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, KeyCorp raised shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $125.52.
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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