Nikko Asset Management Americas Inc. Maintains Position in LogMein, Inc. (LOGM)
Nikko Asset Management Americas Inc. maintained its stake in LogMein, Inc. (NASDAQ:LOGM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,074 shares of the software maker’s stock at the end of the second quarter. Nikko Asset Management Americas Inc.’s holdings in LogMein were worth $112,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in 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. Creative Planning raised its stake in LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Louisiana State Employees Retirement System raised its stake in LogMein by 30.4% in the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the software maker’s stock valued at $1,297,000 after buying an additional 3,100 shares during the period. Nisa Investment Advisors LLC raised its stake in LogMein by 2,612.7% in the first quarter. Nisa Investment Advisors LLC now owns 8,138 shares of the software maker’s stock valued at $793,000 after buying an additional 7,838 shares during the period. Finally, Retirement Systems of Alabama purchased a new stake in LogMein during the first quarter valued at approximately $6,617,000. Institutional investors own 97.39% of the company’s stock.
Shares of LogMein, Inc. (LOGM) opened at 113.50 on Monday. LogMein, Inc. has a 52-week low of $79.63 and a 52-week high of $123.95. The stock has a 50 day moving average price of $112.29 and a 200-day moving average price of $106.70. The stock’s market capitalization is $5.98 billion.
LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The firm had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. LogMein’s revenue for the quarter was up 220.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, equities research analysts predict that LogMein, Inc. will post $4.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.00 annualized dividend and a yield of 0.88%. LogMein’s payout ratio is currently -909.01%.
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Several equities research analysts have commented on LOGM shares. 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. Zacks Investment Research lowered LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Cowen and Company upped their price target on LogMein from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target (up from $110.00) on shares of LogMein in a research report on Friday, May 5th. Finally, BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $127.74.
In other LogMein news, Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.33, for a total value of $2,326,600.00. Following the completion of the sale, the director now directly owns 790,977 shares of the company’s stock, valued at approximately $92,014,354.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lawrence M. D’angelo sold 4,412 shares of LogMein stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $109.99, for a total transaction of $485,275.88. Following the completion of the sale, the senior vice president now directly owns 6,476 shares of the company’s stock, valued at $712,295.24. The disclosure for this sale can be found here. Insiders sold a total of 111,719 shares of company stock valued at $12,685,868 over the last ninety days. 2.50% of the stock is owned by corporate insiders.
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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