Mason Street Advisors LLC purchased a new stake in shares of LogMein Inc. (NASDAQ:LOGM) during the second quarter, Holdings Channel reports. The firm purchased 4,887 shares of the company’s stock, valued at approximately $310,000.
Several other large investors have also recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in LogMein during the second quarter valued at about $245,000. Metropolitan Life Insurance Co. NY raised its stake in LogMein by 8.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 18,170 shares of the company’s stock valued at $1,153,000 after buying an additional 1,391 shares in the last quarter. Numeric Investors LLC raised its stake in LogMein by 10.4% in the second quarter. Numeric Investors LLC now owns 8,500 shares of the company’s stock valued at $539,000 after buying an additional 800 shares in the last quarter. Arizona State Retirement System raised its stake in LogMein by 0.8% in the second quarter. Arizona State Retirement System now owns 12,937 shares of the company’s stock valued at $821,000 after buying an additional 100 shares in the last quarter. Finally, AHL Partners LLP purchased a new stake in LogMein during the second quarter valued at about $682,000.
Shares of LogMein Inc. (NASDAQ:LOGM) opened at 93.40 on Friday. LogMein Inc. has a 12 month low of $35.00 and a 12 month high of $95.99. The firm has a 50-day moving average price of $88.34 and a 200 day moving average price of $68.86. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 183.50 and a beta of 1.37.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The business had revenue of $83.30 million for the quarter, compared to the consensus estimate of $81.80 million. During the same period last year, the business earned $0.35 EPS. The firm’s revenue was up 28.4% compared to the same quarter last year. On average, analysts anticipate that LogMein Inc. will post $1.93 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Wednesday. Barclays PLC raised LogMein from an “underweight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $105.00 in a research report on Monday, October 3rd. TheStreet raised LogMein from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Piper Jaffray Cos. reissued an “overweight” rating on shares of LogMein in a research report on Wednesday, July 27th. Finally, Needham & Company LLC upped their price target on LogMein from $81.00 to $98.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $84.22.
In other LogMein news, Director Marilyn Matz sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $83.20, for a total value of $41,600.00. Following the sale, the director now owns 1,950 shares of the company’s stock, valued at approximately $162,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Donahue sold 4,137 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total value of $331,497.81. Following the completion of the sale, the senior vice president now directly owns 8,137 shares in the company, valued at approximately $652,017.81. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
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 product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
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