LogMein, Inc. (LOGM) Stake Increased by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its stake in LogMein, Inc. (NASDAQ:LOGM) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,409 shares of the software maker’s stock after buying an additional 236 shares during the period. Great West Life Assurance Co. Can’s holdings in LogMein were worth $3,280,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in LogMein by 97,044.4% in the first quarter. BlackRock Inc. now owns 5,531,400 shares of the software maker’s stock valued at $539,312,000 after buying an additional 5,525,706 shares during the period. Vanguard Group Inc. boosted its stake in LogMein by 112.7% in the first quarter. Vanguard Group Inc. now owns 4,446,416 shares of the software maker’s stock valued at $433,525,000 after buying an additional 2,356,291 shares during the period. FMR LLC boosted its stake in LogMein by 129.0% in the first quarter. FMR LLC now owns 2,903,102 shares of the software maker’s stock valued at $283,052,000 after buying an additional 1,635,216 shares during the period. Clearbridge Investments LLC acquired a new stake in LogMein during the first quarter valued at about $141,745,000. Finally, Elliott Management Corp acquired a new stake in LogMein during the first quarter valued at about $118,804,000. 97.39% of the stock is owned by institutional investors.
LogMein, Inc. (NASDAQ LOGM) opened at 113.50 on Friday. The stock’s market capitalization is $5.98 billion. The company has a 50-day moving average price of $112.29 and a 200-day moving average price of $106.70. LogMein, Inc. has a 12-month low of $79.63 and a 12-month high of $123.95.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The company had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm’s revenue for the quarter was up 220.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. On average, equities research analysts forecast that LogMein, Inc. will post $4.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. LogMein’s payout ratio is currently -909.01%.
LOGM has been the subject of several recent analyst reports. Cowen and Company raised their target price on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Vetr cut LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price for the company. in a research note on Wednesday, April 26th. BidaskClub raised LogMein from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Piper Jaffray Companies reissued an “overweight” rating and set a $150.00 target price on shares of LogMein in a research note on Friday, June 23rd. Finally, Zacks Investment Research cut LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. LogMein has an average rating of “Buy” and a consensus price target of $127.74.
In other LogMein news, SVP Lawrence M. D’angelo sold 3,377 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $111.37, for a total value of $376,096.49. Following the completion of the transaction, the senior vice president now directly owns 3,377 shares of the company’s stock, valued at approximately $376,096.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James Lok sold 960 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $111.00, for a total transaction of $106,560.00. Following the completion of the transaction, the senior vice president now directly owns 2,109 shares of the company’s stock, valued at $234,099. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,860 shares of company stock valued at $13,258,245. 2.50% of the stock is currently owned by corporate insiders.
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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