Michael K. Simon Sells 20,000 Shares of LogMein, Inc. (LOGM) Stock
LogMein, Inc. (NASDAQ:LOGM) Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $111.93, for a total transaction of $2,238,600.00. Following the completion of the sale, the director now directly owns 765,579 shares of the company’s stock, valued at $85,691,257.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of LogMein, Inc. (NASDAQ LOGM) traded down 0.22% during trading on Wednesday, hitting $111.45. 560,594 shares of the company’s stock were exchanged. The firm’s market capitalization is $5.88 billion. LogMein, Inc. has a 1-year low of $86.22 and a 1-year high of $123.95. The stock’s 50 day moving average is $113.86 and its 200 day moving average is $108.34.
LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. 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 $4.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. LogMein’s dividend payout ratio is currently -909.01%.
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LOGM has been the subject of several recent analyst reports. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $150.00 target price on shares of LogMein in a research note on Friday, June 23rd. Northland Securities reaffirmed a “buy” rating on shares of LogMein in a research note on Friday, July 28th. KeyCorp raised shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Friday, July 28th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $134.00 target price (up from $130.00) on shares of LogMein in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. LogMein has a consensus rating of “Buy” and an average target price of $131.85.
Several hedge funds have recently added to or reduced their stakes in LOGM. Nisa Investment Advisors LLC raised its holdings in shares of LogMein by 2,612.7% during the first quarter. Nisa Investment Advisors LLC now owns 8,138 shares of the software maker’s stock valued at $793,000 after acquiring an additional 7,838 shares during the period. ProShare Advisors LLC increased its stake in LogMein by 124.3% in the 1st quarter. ProShare Advisors LLC now owns 10,345 shares of the software maker’s stock valued at $1,009,000 after buying an additional 5,733 shares during the period. Janney Montgomery Scott LLC acquired a new position in LogMein in the 1st quarter valued at approximately $306,000. State of New Jersey Common Pension Fund D acquired a new position in LogMein in the 1st quarter valued at approximately $1,248,000. Finally, Russell Investments Group Ltd. increased its stake in LogMein by 73.0% in the 1st quarter. Russell Investments Group Ltd. now owns 106,589 shares of the software maker’s stock valued at $10,394,000 after buying an additional 44,969 shares during the period. Institutional investors and hedge funds own 95.69% of the company’s stock.
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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