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 stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $92.37, for a total transaction of $1,847,400.00. Following the completion of the transaction, the director now owns 588,889 shares of the company’s stock, valued at approximately $54,395,676.93. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of LogMeIn stock traded down $0.73 during mid-day trading on Thursday, reaching $87.67. 41,310 shares of the stock were exchanged, compared to its average volume of 584,754. The stock has a market capitalization of $4.52 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.07. LogMeIn Inc has a fifty-two week low of $74.87 and a fifty-two week high of $134.80.
LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $309.58 million during the quarter, compared to analysts’ expectations of $302.92 million. LogMeIn had a net margin of 12.16% and a return on equity of 7.19%. On average, equities analysts anticipate that LogMeIn Inc will post 4.38 earnings per share for the current year.
A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of LogMeIn from $112.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, October 26th. BidaskClub upgraded shares of LogMeIn from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Zacks Investment Research cut shares of LogMeIn from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Oppenheimer upgraded shares of LogMeIn from a “market perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research report on Monday, October 1st. Finally, ValuEngine upgraded shares of LogMeIn from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $110.10.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in LogMeIn by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,579,956 shares of the software maker’s stock valued at $408,073,000 after acquiring an additional 63,104 shares in the last quarter. Nordea Investment Management AB increased its position in LogMeIn by 58.0% in the 3rd quarter. Nordea Investment Management AB now owns 74,140 shares of the software maker’s stock valued at $6,604,000 after acquiring an additional 27,204 shares in the last quarter. Teachers Advisors LLC increased its position in LogMeIn by 1.4% in the 3rd quarter. Teachers Advisors LLC now owns 122,710 shares of the software maker’s stock valued at $10,933,000 after acquiring an additional 1,642 shares in the last quarter. Thrivent Financial for Lutherans increased its position in LogMeIn by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,592 shares of the software maker’s stock valued at $1,122,000 after acquiring an additional 696 shares in the last quarter. Finally, Prospect Capital Advisors LLC acquired a new stake in LogMeIn in the 3rd quarter valued at about $14,100,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
Recommended Story: Reverse Stock Split
Receive News & Ratings for LogMeIn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMeIn and related companies with MarketBeat.com's FREE daily email newsletter.