Insider Selling: LogMeIn SVP Sells 5,362 Shares of Stock (LOGM)
LogMeIn (NASDAQ:LOGM) SVP Michael J. Donahue unloaded 5,362 shares of LogMeIn stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $43.15, for a total transaction of $231,370.30. Following the completion of the transaction, the senior vice president now directly owns 1,000 shares in the company, valued at approximately $43,150. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of LogMeIn (NASDAQ:LOGM) traded down 0.42% during mid-day trading on Friday, hitting $43.1179. 28,107 shares of the company’s stock traded hands. LogMeIn has a 52-week low of $28.92 and a 52-week high of $47.69. The stock’s 50-day moving average is $41.70 and its 200-day moving average is $42.23. The company has a market cap of $1.061 billion and a price-to-earnings ratio of 687.30.
LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, July 24th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. On average, analysts predict that LogMeIn will post $1.09 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.10.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.