Oakbrook Investments LLC Purchases New Position in LogMein, Inc. (LOGM)
Oakbrook Investments LLC purchased a new position in LogMein, Inc. (NASDAQ:LOGM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,550 shares of the software maker’s stock, valued at approximately $371,000.
Several other large investors have also added to or reduced their stakes in LOGM. 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 in the last quarter. Vanguard Group Inc. raised its position in LogMein by 112.7% in the first quarter. Vanguard Group Inc. now owns 4,446,416 shares of the software maker’s stock worth $433,525,000 after buying an additional 2,356,291 shares during the period. FMR LLC raised its position in LogMein by 129.0% in the first quarter. FMR LLC now owns 2,903,102 shares of the software maker’s stock worth $283,052,000 after buying an additional 1,635,216 shares during the period. State Street Corp raised its position in LogMein by 209.9% in the first quarter. State Street Corp now owns 1,671,627 shares of the software maker’s stock worth $162,988,000 after buying an additional 1,132,179 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position 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 worth $155,784,000 after buying an additional 972,980 shares during the period. Institutional investors and hedge funds own 95.88% of the company’s stock.
Shares of LogMein, Inc. (LOGM) traded up 4.58% during mid-day trading on Monday, reaching $117.60. 539,419 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $110.02 and a 200-day moving average price of $105.81. LogMein, Inc. has a 1-year low of $79.63 and a 1-year high of $123.95. The company’s market capitalization is $6.20 billion.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business had revenue of $266.95 million for the quarter, compared to the consensus estimate of $264.95 million. During the same period last year, the business earned $0.49 EPS. The firm’s revenue was up 220.6% compared to the same quarter last year. On average, equities research analysts forecast that LogMein, Inc. will post $4.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, August 7th. LogMein’s payout ratio is -227.25%.
A number of research firms have issued reports on LOGM. KeyCorp upgraded shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a report on Friday, July 28th. BidaskClub lowered shares of LogMein from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. TheStreet upgraded shares of LogMein from a “c” rating to a “b-” rating in a report on Wednesday, April 19th. Northland Securities restated a “buy” rating on shares of LogMein in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. LogMein presently has an average rating of “Buy” and a consensus target price of $125.52.
In other LogMein news, Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $113.93, for a total value of $2,278,600.00. Following 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 document filed with the SEC, which is accessible through this link. Also, 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 value of $996,975.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $6,147,404.82. The disclosure for this sale can be found here. Insiders sold a total of 128,796 shares of company stock worth $14,560,836 over the last three months. 2.50% 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 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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