Columbia Partners L L C Investment Management Has $321,000 Position in LogMein, Inc. (LOGM)

Columbia Partners L L C Investment Management reduced its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 83.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,081 shares of the software maker’s stock after selling 15,177 shares during the period. Columbia Partners L L C Investment Management’s holdings in LogMein were worth $321,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Creative Planning raised its position in 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 purchasing an additional 3 shares during the last quarter. American Capital Management Inc. bought a new position in LogMein during the 2nd quarter worth $203,000. Osborn Williams & Donohoe LLC bought a new position in LogMein during the 2nd quarter worth $203,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in LogMein by 102.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock worth $190,000 after purchasing an additional 985 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC bought a new position in LogMein during the 2nd quarter worth $208,000. 95.41% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on LOGM shares. BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company reissued a “buy” rating and issued a $134.00 price objective on shares of LogMein in a research report on Friday, September 1st. Piper Jaffray Companies reissued an “overweight” rating and issued a $150.00 price objective on shares of LogMein in a research report on Friday, June 23rd. Robert W. Baird reissued a “hold” rating and issued a $130.00 price objective on shares of LogMein in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $140.00 price objective on shares of LogMein in a research report on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. LogMein presently has a consensus rating of “Buy” and an average target price of $131.85.

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Shares of LogMein, Inc. (LOGM) opened at 110.75 on Thursday. LogMein, Inc. has a 12 month low of $86.22 and a 12 month high of $123.95. The company’s market capitalization is $5.84 billion. The company has a 50-day moving average price of $113.56 and a 200-day moving average price of $108.94.

LogMein (NASDAQ:LOGM) last posted its earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. The company had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. LogMein’s revenue for the quarter was up 220.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that LogMein, Inc. will post $4.05 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. LogMein’s dividend payout ratio is currently -909.01%.

In other news, Director Michael K. Simon sold 20,000 shares of the stock in a transaction dated Monday, August 7th. The shares were 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 in the company, valued at $92,014,354.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven J. Benson sold 3,016 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total transaction of $336,585.60. Following the sale, the director now owns 1,787 shares of the company’s stock, valued at $199,429.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,319 shares of company stock valued at $7,922,367. 2.50% of the stock is currently owned by company insiders.

LogMein 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.

Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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