LogMeIn CEO Sells $1,220,100 in Stock (LOGM)
LogMeIn (NASDAQ:LOGM) CEO Michael K. Simon unloaded 30,000 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $40.67, for a total value of $1,220,100.00. Following the transaction, the chief executive officer now directly owns 623,572 shares of the company’s stock, valued at approximately $25,360,673. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
LOGM has been the subject of a number of recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of LogMeIn in a research note on Friday, July 25th. They now have a $50.00 price target on the stock, down previously from $55.00. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of LogMeIn in a research note on Friday, July 25th. They now have a $50.00 price target on the stock, up previously from $45.00. Finally, analysts at Piper Jaffray raised their price target on shares of LogMeIn to $60.00 in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $50.10.
LogMeIn (NASDAQ:LOGM) traded up 1.07% during mid-day trading on Tuesday, hitting $41.50. The stock had a trading volume of 274,841 shares. LogMeIn has a 1-year low of $28.92 and a 1-year high of $47.69. The stock has a 50-day moving average of $43.1 and a 200-day moving average of $41.63. The company has a market cap of $1.022 billion and a P/E ratio of 651.75.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.05. The company had revenue of $55.00 million for the quarter, compared to the consensus estimate of $52.48 million. During the same quarter last year, the company posted $0.13 earnings per share. LogMeIn’s revenue was up 35.1% compared to the same quarter last year. On average, analysts predict that LogMeIn will post $1.09 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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