Profund Advisors LLC lowered its position in LogMein, Inc. (NASDAQ:LOGM) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,279 shares of the software maker’s stock after selling 380 shares during the quarter. Profund Advisors LLC’s holdings in LogMein were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. lifted 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 during the last quarter. Vanguard Group Inc. lifted its stake in LogMein by 112.7% in 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 last quarter. FMR LLC lifted its stake in LogMein by 129.0% in 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 last quarter. State Street Corp lifted its stake in LogMein by 209.9% in the first quarter. State Street Corp now owns 1,671,627 shares of the software maker’s stock valued at $162,988,000 after buying an additional 1,132,179 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 valued at $155,784,000 after buying an additional 972,980 shares during the last quarter. Institutional investors own 95.69% of the company’s stock.

LogMein, Inc. (NASDAQ:LOGM) traded down 0.31% during midday trading on Friday, hitting $111.20. The stock had a trading volume of 650,664 shares. The firm’s market cap is $5.86 billion. The stock has a 50-day moving average price of $113.77 and a 200 day moving average price of $108.51. LogMein, Inc. has a one year low of $86.22 and a one year high of $123.95.

LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to the consensus estimate of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business’s revenue was up 220.6% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, analysts predict that LogMein, Inc. will post $4.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, August 7th. LogMein’s dividend payout ratio (DPR) is -909.01%.

In related news, CFO Edward K. Herdiech sold 6,354 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $117.66, for a total value of $747,611.64. Following the sale, the chief financial officer now owns 13,695 shares of the company’s stock, valued at approximately $1,611,353.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Battles sold 721 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total value of $84,919.38. Following the completion of the sale, the insider now directly owns 2,036 shares in the company, valued at approximately $239,800.08. The disclosure for this sale can be found here. In the last three months, insiders sold 69,319 shares of company stock worth $7,922,367. Company insiders own 2.50% of the company’s stock.

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A number of brokerages have weighed in on LOGM. Royal Bank Of Canada reiterated a “buy” rating and issued a $140.00 price objective on shares of LogMein in a research note on Monday, September 4th. Robert W. Baird reiterated a “hold” rating and issued a $130.00 price objective on shares of LogMein in a research note on Friday, September 1st. Cowen and Company reiterated a “buy” rating and issued a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $170.00 price objective on shares of LogMein in a research note on Wednesday, August 9th. Finally, BidaskClub cut LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. 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. The stock has an average rating of “Buy” and an average target price of $131.85.

LogMein 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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Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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