Century Capital Management LLC purchased a new stake in LogMeIn Inc (NASDAQ:LOGM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,151 shares of the software maker’s stock, valued at approximately $600,000.
Other institutional investors also recently modified their holdings of the company. Cim LLC boosted its position in shares of LogMeIn by 26.1% in the first quarter. Cim LLC now owns 5,339 shares of the software maker’s stock valued at $520,000 after buying an additional 1,104 shares during the last quarter. Rhumbline Advisers boosted its position in shares of LogMeIn by 7.3% in the third quarter. Rhumbline Advisers now owns 34,089 shares of the software maker’s stock valued at $3,081,000 after buying an additional 2,330 shares during the last quarter. State Street Corp boosted its position in shares of LogMeIn by 5.7% in the fourth quarter. State Street Corp now owns 539,448 shares of the software maker’s stock valued at $52,086,000 after buying an additional 29,157 shares during the last quarter. Fred Alger Management Inc. bought a new position in shares of LogMeIn during the fourth quarter valued at approximately $1,234,000. Finally, Vident Investment Advisory LLC bought a new position in shares of LogMeIn during the fourth quarter valued at approximately $318,000.
LogMeIn Inc (NASDAQ:LOGM) traded up 2.45% during midday trading on Friday, hitting $113.05. The stock had a trading volume of 688,650 shares. LogMeIn Inc has a 52 week low of $57.14 and a 52 week high of $123.95. The stock’s 50 day moving average price is $108.09 and its 200-day moving average price is $101.85. The company’s market cap is $5.95 billion.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, May 4th. The software maker reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.09. The firm had revenue of $201.10 million for the quarter, compared to analyst estimates of $195.74 million. LogMeIn had a net margin of 2.16% and a return on equity of 13.40%. The company’s revenue for the quarter was up 152.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Equities research analysts predict that LogMeIn Inc will post $3.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Wednesday, May 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%.
Several equities analysts have recently commented on LOGM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target (up previously from $70.00) on shares of LogMeIn in a research report on Sunday, February 5th. Cowen and Company raised shares of LogMeIn from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $100.00 to $115.00 in a research report on Friday, April 7th. Zacks Investment Research cut shares of LogMeIn from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Barclays PLC increased their price target on shares of LogMeIn from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th. Finally, Vetr cut shares of LogMeIn from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. LogMeIn currently has a consensus rating of “Buy” and a consensus price target of $115.30.
In other news, insider Christopher Battles sold 2,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $114.06, for a total transaction of $293,362.32. Following the transaction, the insider now directly owns 2,790 shares in the company, valued at $318,227.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James Lok sold 640 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $116.05, for a total transaction of $74,272.00. Following the transaction, the senior vice president now owns 3,709 shares in the company, valued at $430,429.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,995 shares of company stock worth $12,583,892. Company insiders own 1.20% of the company’s stock.
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 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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