Parametric Portfolio Associates LLC lifted its position in LogMein, Inc. (NASDAQ:LOGM) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 111,838 shares of the software maker’s stock after acquiring an additional 2,675 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.21% of LogMein worth $11,687,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of LOGM. UBS Asset Management Americas Inc. lifted its position in shares of LogMein by 69.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 256,018 shares of the software maker’s stock valued at $24,962,000 after acquiring an additional 105,092 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of LogMein in the 1st quarter valued at approximately $243,000. Envestnet Asset Management Inc. lifted its position in shares of LogMein by 656.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,111 shares of the software maker’s stock valued at $498,000 after acquiring an additional 4,435 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of LogMein in the 1st quarter valued at approximately $202,000. Finally, JPMorgan Chase & Co. lifted its position in shares of LogMein by 118.8% in the 1st quarter. JPMorgan Chase & Co. now owns 202,198 shares of the software maker’s stock valued at $19,713,000 after acquiring an additional 109,796 shares in the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.
LogMein, Inc. (NASDAQ LOGM) opened at 117.50 on Wednesday. The firm’s market cap is $6.20 billion. LogMein, Inc. has a 52 week low of $86.22 and a 52 week high of $123.95. The stock’s 50 day moving average is $112.31 and its 200 day moving average is $110.52.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million for 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%. The firm’s revenue for the quarter was up 220.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts expect that LogMein, Inc. will post $4.05 EPS for the current year.
In other news, Director Steven J. Benson sold 3,016 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Battles sold 721 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the sale, the insider now directly owns 2,036 shares in the company, valued at approximately $239,800.08. The disclosure for this sale can be found here. In the last three months, insiders sold 69,319 shares of company stock worth $7,922,367. 2.50% of the stock is currently owned by insiders.
LOGM has been the subject of several research analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $140.00 price target on shares of LogMein in a research report on Monday, September 4th. KeyCorp upgraded shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research report on Friday, July 28th. BidaskClub upgraded shares of LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Robert W. Baird upgraded shares of LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Tuesday, October 3rd. Finally, Cowen and Company reiterated a “buy” rating and issued a $134.00 target price on shares of LogMein in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $131.85.
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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