Insider Selling: LogMein, Inc. (LOGM) Director Sells $336,585.60 in Stock
LogMein, Inc. (NASDAQ:LOGM) Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total value of $336,585.60. Following the sale, the director now owns 1,787 shares of the company’s stock, valued at $199,429.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of LogMein, Inc. (NASDAQ LOGM) opened at 111.20 on Friday. The company’s market capitalization is $5.86 billion. LogMein, Inc. has a 12 month low of $86.22 and a 12 month high of $123.95. The company’s 50 day moving average price is $113.77 and its 200 day moving average price is $108.51.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The company had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The firm’s quarterly revenue was up 220.6% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. Analysts expect that LogMein, Inc. will post $4.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 7th. LogMein’s dividend payout ratio is -909.01%.
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LOGM has been the subject of a number of recent analyst reports. Northland Securities reiterated a “buy” rating on shares of LogMein in a research report on Friday, July 28th. BidaskClub downgraded LogMein from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and set a $134.00 target price on shares of LogMein in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $140.00 target price on shares of LogMein in a research report on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $131.85.
A number of large investors have recently bought and sold shares of LOGM. BlackRock Inc. boosted its stake in LogMein by 97,044.4% during 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. boosted its stake in LogMein by 112.7% during 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 boosted its stake in LogMein by 129.0% during 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. Clearbridge Investments LLC bought a new stake in LogMein during the first quarter valued at $141,745,000. Finally, Elliott Management Corp bought a new stake in LogMein during the first quarter valued at $118,804,000. 95.69% of the stock is owned by institutional investors.
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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