Wells Fargo & Company MN trimmed its stake in shares of LogMeIn Inc (NASDAQ:LOGM) by 71.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,245 shares of the software maker’s stock after selling 421,470 shares during the quarter. Wells Fargo & Company MN’s holdings in LogMeIn were worth $14,902,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its position in LogMeIn by 299.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,350 shares of the software maker’s stock worth $139,000 after purchasing an additional 1,012 shares during the period. Global X Management Co LLC acquired a new stake in shares of LogMeIn during the second quarter worth $216,000. We Are One Seven LLC acquired a new stake in shares of LogMeIn during the third quarter worth $215,000. Sigma Planning Corp lifted its holdings in shares of LogMeIn by 39.5% during the second quarter. Sigma Planning Corp now owns 2,580 shares of the software maker’s stock worth $266,000 after buying an additional 730 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of LogMeIn during the second quarter worth $340,000. 97.97% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on LogMeIn from $112.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, October 26th. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Zacks Investment Research downgraded LogMeIn from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Oppenheimer raised LogMeIn from a “market perform” rating to an “outperform” rating and set a $105.00 target price for the company in a report on Monday, October 1st. Finally, ValuEngine raised LogMeIn from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $110.10.
Shares of NASDAQ LOGM opened at $88.40 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05. LogMeIn Inc has a 12 month low of $74.87 and a 12 month high of $134.80.
LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, October 25th. The software maker reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.06. The firm had revenue of $309.58 million during the quarter, compared to the consensus estimate of $302.92 million. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. On average, sell-side analysts predict that LogMeIn Inc will post 4.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.36%. The ex-dividend date was Tuesday, November 13th. LogMeIn’s payout ratio is 35.82%.
In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $84.61, for a total transaction of $1,692,200.00. Following the completion of the transaction, the director now owns 636,966 shares of the company’s stock, valued at $53,893,693.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.
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LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
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