Millennium Management LLC trimmed its holdings in shares of LogMeIn Inc (NASDAQ:LOGM) by 32.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 564,639 shares of the software maker’s stock after selling 267,911 shares during the period. Millennium Management LLC owned 1.07% of LogMeIn worth $64,651,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of LogMeIn by 1.6% during the fourth quarter. BlackRock Inc. now owns 4,383,540 shares of the software maker’s stock worth $501,914,000 after buying an additional 67,066 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of LogMeIn by 31.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,005,473 shares of the software maker’s stock worth $229,626,000 after buying an additional 483,790 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of LogMeIn by 30.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,915,622 shares of the software maker’s stock worth $219,338,000 after buying an additional 446,395 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of LogMeIn by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,309,114 shares of the software maker’s stock worth $149,894,000 after buying an additional 103,056 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of LogMeIn by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,274,465 shares of the software maker’s stock worth $145,926,000 after buying an additional 79,880 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.
Shares of LogMeIn stock opened at $126.45 on Monday. LogMeIn Inc has a 12 month low of $92.72 and a 12 month high of $134.80. The company has a market cap of $6,629.90, a P/E ratio of 71.04, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.
LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, February 15th. The software maker reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. LogMeIn had a net margin of 10.06% and a return on equity of 5.57%. The firm had revenue of $276.03 million during the quarter, compared to the consensus estimate of $276.75 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up 213.8% on a year-over-year basis. equities analysts predict that LogMeIn Inc will post 4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, February 9th. This is an increase from LogMeIn’s previous quarterly dividend of $0.25. LogMeIn’s dividend payout ratio is presently 67.42%.
A number of research firms recently weighed in on LOGM. BidaskClub raised shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research downgraded shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Needham & Company LLC boosted their price target on shares of LogMeIn from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Oppenheimer reissued a “hold” rating on shares of LogMeIn in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. LogMeIn has a consensus rating of “Buy” and a consensus target price of $137.63.
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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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