LogMein, Inc. (LOGM) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in LogMein, Inc. (NASDAQ:LOGM) by 71.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 25,670 shares of the software maker’s stock after buying an additional 10,736 shares during the period. PNC Financial Services Group Inc.’s holdings in LogMein were worth $2,504,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Elk Creek Partners LLC boosted its position in LogMein by 9.6% in the first quarter. Elk Creek Partners LLC now owns 364,552 shares of the software maker’s stock worth $35,544,000 after buying an additional 32,048 shares during the last quarter. Strategic Global Advisors LLC acquired a new position in LogMein during the first quarter worth about $208,000. Redwood Investments LLC boosted its position in LogMein by 7.7% in the first quarter. Redwood Investments LLC now owns 65,633 shares of the software maker’s stock worth $6,399,000 after buying an additional 4,715 shares during the last quarter. Royce & Associates LP acquired a new position in LogMein during the first quarter worth about $2,046,000. Finally, California Public Employees Retirement System boosted its position in LogMein by 92.9% in the first quarter. California Public Employees Retirement System now owns 113,031 shares of the software maker’s stock worth $11,021,000 after buying an additional 54,431 shares during the last quarter. Hedge funds and other institutional investors own 97.45% of the company’s stock.

Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

Shares of LogMein, Inc. (LOGM) traded up 1.825% during trading on Wednesday, hitting $110.175. The stock had a trading volume of 55,360 shares. The firm has a 50 day moving average price of $112.27 and a 200-day moving average price of $103.61. LogMein, Inc. has a 52 week low of $57.82 and a 52 week high of $123.95. The stock’s market capitalization is $5.80 billion.

LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, May 4th. The software maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.09. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The company had revenue of $201.10 million for the quarter, compared to analyst estimates of $195.74 million. During the same period in the previous year, the company posted $0.35 earnings per share. The firm’s revenue was up 152.3% on a year-over-year basis. On average, equities research analysts forecast that LogMein, Inc. will post $3.87 EPS for the current fiscal year.

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A number of research firms have issued reports on LOGM. BidaskClub cut LogMein from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Cowen and Company upped their target price on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price (up from $110.00) on shares of LogMein in a research report on Friday, May 5th. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Vetr lowered LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price on the stock. in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $115.30.

In related news, CEO William Raymond Wagner sold 8,750 shares of LogMein stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $113.94, for a total transaction of $996,975.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $6,147,404.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James Lok sold 640 shares of LogMein stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $116.05, for a total value of $74,272.00. Following the sale, 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. Insiders have sold 107,081 shares of company stock worth $12,073,839 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

About LogMein

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:LOGM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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