HighTower Advisors LLC acquired a new stake in LogMein, Inc. (NASDAQ:LOGM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,846 shares of the software maker’s stock, valued at approximately $280,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in LogMein by 97,044.4% in the first quarter. BlackRock Inc. now owns 5,531,400 shares of the software maker’s stock valued at $539,312,000 after buying an additional 5,525,706 shares during the period. Vanguard Group Inc. raised its stake in LogMein by 112.7% in the first quarter. Vanguard Group Inc. now owns 4,446,416 shares of the software maker’s stock valued at $433,525,000 after buying an additional 2,356,291 shares during the period. FMR LLC raised its stake in LogMein by 129.0% in the first quarter. FMR LLC now owns 2,903,102 shares of the software maker’s stock valued at $283,052,000 after buying an additional 1,635,216 shares during the period. State Street Corp raised its stake in LogMein by 209.9% in the first quarter. State Street Corp now owns 1,671,627 shares of the software maker’s stock valued at $162,988,000 after buying an additional 1,132,179 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in LogMein by 155.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,597,788 shares of the software maker’s stock valued at $155,784,000 after buying an additional 972,980 shares during the period. Institutional investors own 96.30% of the company’s stock.

Shares of LogMein, Inc. (NASDAQ:LOGM) opened at 112.45 on Friday. LogMein, Inc. has a 52-week low of $61.96 and a 52-week high of $123.95. The stock’s market capitalization is $5.92 billion. The stock has a 50 day moving average price of $109.71 and a 200-day moving average price of $104.95.

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

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LOGM has been the subject of several research reports. Piper Jaffray Companies reiterated an “overweight” rating and set a $150.00 price objective on shares of LogMein in a research note on Friday, June 23rd. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Vetr lowered LogMein from a “hold” rating to a “sell” rating and set a $101.67 price objective for the company. in a research note on Wednesday, April 26th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective (up from $110.00) on shares of LogMein in a research note on Friday, May 5th. Finally, Cowen and Company boosted their price objective on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $118.63.

In other news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $113.93, for a total transaction of $2,278,600.00. Following the completion of the transaction, the director now directly owns 795,883 shares of the company’s stock, valued at approximately $90,674,950.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Raymond Wagner sold 8,750 shares of the firm’s 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 transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $6,147,404.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,081 shares of company stock valued at $12,073,839. Corporate insiders own 2.50% 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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Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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