Dimensional Fund Advisors LP boosted its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 13.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 378,597 shares of the software maker’s stock after purchasing an additional 45,825 shares during the period. Dimensional Fund Advisors LP owned approximately 0.72% of LogMein worth $39,566,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in LOGM. Vanguard Group Inc. lifted its stake in shares of LogMein by 112.7% in the 1st quarter. Vanguard Group Inc. now owns 4,446,416 shares of the software maker’s stock valued at $433,525,000 after purchasing an additional 2,356,291 shares during the period. FMR LLC raised its position in LogMein by 45.9% during the second quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock worth $442,745,000 after acquiring an additional 1,333,687 shares during the period. State Street Corp raised its position in LogMein by 209.9% during the first quarter. State Street Corp now owns 1,671,627 shares of the software maker’s stock worth $162,988,000 after acquiring an additional 1,132,179 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of LogMein by 49.8% during the second quarter. Bank of New York Mellon Corp now owns 1,564,888 shares of the software maker’s stock worth $163,531,000 after buying an additional 520,318 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of LogMein by 86.2% during the second quarter. American Century Companies Inc. now owns 1,017,898 shares of the software maker’s stock worth $106,370,000 after buying an additional 471,356 shares in the last quarter. 95.80% of the stock is currently owned by institutional investors.
In related news, Director Michael K. Simon sold 20,000 shares of the business’s 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 transaction, the director now directly owns 765,579 shares of the company’s stock, valued at approximately $85,691,257.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,787 shares in the company, valued at $199,429.20. The disclosure for this sale can be found here. Insiders sold a total of 24,152 shares of company stock valued at $2,710,858 in the last three months. 2.50% of the stock is currently owned by corporate insiders.
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Several research analysts have weighed in on the stock. BidaskClub raised shares of LogMein from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. 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 price target on the stock in a research report on Friday, July 28th. Cowen and Company reissued an “outperform” rating and set a $134.00 price target (up previously from $130.00) on shares of LogMein in a research report on Sunday, July 30th. Finally, Zacks Investment Research raised shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. LogMein has a consensus rating of “Buy” and a consensus price target of $135.96.
LogMein, Inc. (NASDAQ LOGM) traded down $0.55 during trading on Friday, reaching $115.50. The company’s stock had a trading volume of 424,300 shares, compared to its average volume of 734,095. The firm has a market capitalization of $6,108.60, a P/E ratio of 43.30, a P/E/G ratio of 2.02 and a beta of 1.34. LogMein, Inc. has a 12 month low of $90.35 and a 12 month high of $129.51.
LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.05. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The business had revenue of $269.30 million during the quarter, compared to the consensus estimate of $270.56 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue was up 216.5% on a year-over-year basis. equities analysts anticipate that LogMein, Inc. will post 3.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Wednesday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, November 7th. LogMein’s payout ratio is 909.17%.
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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