Insider Selling: Gregory Hughes Sells 3,150 Shares of LogMeIn Stock (LOGM)
LogMeIn (NASDAQ:LOGM) Director Gregory Hughes sold 3,150 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $41.53, for a total transaction of $130,819.50. Following the sale, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $128,743. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on LOGM shares. Analysts at Barclays raised their price target on shares of LogMeIn from $39.00 to $45.00 in a research note on Wednesday, April 30th. They now have an “equal weight” rating on the stock. Separately, analysts at Needham & Company LLC raised their price target on shares of LogMeIn from $48.00 to $55.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Finally, analysts at Maxim Group raised their price target on shares of LogMeIn from $45.00 to $48.00 in a research note on Thursday, April 17th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.40.
LogMeIn (NASDAQ:LOGM) traded up 3.66% during mid-day trading on Thursday, hitting $43.56. 180,756 shares of the company’s stock traded hands. LogMeIn has a 52 week low of $23.72 and a 52 week high of $47.69. The stock has a 50-day moving average of $42.09 and a 200-day moving average of $38.43. The company’s market cap is $1.058 billion.
LogMeIn (NASDAQ:LOGM) last released its earnings data on Tuesday, April 29th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.01. The company had revenue of $49.00 million for the quarter, compared to the consensus estimate of $47.06 million. During the same quarter last year, the company posted $0.12 earnings per share. LogMeIn’s revenue was up 31.0% compared to the same quarter last year. On average, analysts predict that LogMeIn will post $1.00 earnings per share for the current fiscal year.
LogMeIn, Inc (NASDAQ:LOGM) provides essential cloud-based collaboration, information technology (IT) management and customer service offerings aimed at addressing the evolving multi-device, security, management and accessibility requirements of the new mobile workplace.
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