Michael K. Simon Sells 20,000 Shares of LogMein, Inc. (NASDAQ:LOGM) Stock
LogMein, Inc. (NASDAQ:LOGM) Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the transaction, the director now directly owns 790,977 shares in the company, valued at $92,014,354.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
LogMein, Inc. (NASDAQ LOGM) traded up 0.04% on Friday, reaching $113.50. 296,444 shares of the company’s stock traded hands. The stock has a 50-day moving average of $112.29 and a 200 day moving average of $106.70. The firm’s market capitalization is $5.98 billion. LogMein, Inc. has a 52 week low of $79.63 and a 52 week high of $123.95.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $266.95 million during the quarter, compared to the consensus estimate of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm’s revenue was up 220.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, equities analysts expect that LogMein, Inc. will post $4.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, August 7th. LogMein’s dividend payout ratio (DPR) is -909.01%.
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Several institutional investors have recently made changes to their positions in LOGM. Dimensional Fund Advisors LP increased its position in shares of LogMein by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,057 shares of the software maker’s stock valued at $6,861,000 after buying an additional 22,462 shares during the period. Norges Bank bought a new stake in shares of LogMein during the fourth quarter worth $16,421,000. Teachers Advisors LLC boosted its stake in shares of LogMein by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 234,283 shares of the software maker’s stock worth $22,620,000 after buying an additional 7,814 shares in the last quarter. Creative Planning boosted its stake in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock worth $112,000 after buying an additional 673 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of LogMein by 161.7% in the first quarter. Bank of Montreal Can now owns 222,197 shares of the software maker’s stock worth $21,663,000 after buying an additional 137,291 shares in the last quarter. 97.39% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on LOGM. Northland Securities reissued a “buy” rating on shares of LogMein in a research note on Friday, July 28th. Piper Jaffray Companies reissued an “overweight” rating and issued a $170.00 price target on shares of LogMein in a research note on Wednesday, August 9th. Cowen and Company reissued an “outperform” rating and issued a $134.00 price target (up from $130.00) on shares of LogMein in a research note on Sunday, July 30th. BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $127.74.
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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