Insider Selling: LogMeIn SVP Unloads 3,372 Shares of Stock (LOGM)
LogMeIn (NASDAQ:LOGM) SVP Edward K. Herdiech unloaded 3,372 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $47.24, for a total transaction of $159,293.28. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 company. LogMeIn currently has a consensus rating of “Buy” and a consensus target price of $44.40.
Shares of LogMeIn (NASDAQ:LOGM) traded down 0.47% on Thursday, hitting $46.36. 87,083 shares of the company’s stock traded hands. LogMeIn has a 52 week low of $24.07 and a 52 week high of $47.69. The stock’s 50-day moving average is $43.71 and its 200-day moving average is $39.73. The company’s market cap is $1.126 billion.
LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. 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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