Insider Selling: Michael J. Donahue Sells 5,362 Shares of LogMeIn Stock (LOGM)
LogMeIn (NASDAQ:LOGM) SVP Michael J. Donahue sold 5,362 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $43.15, for a total transaction of $231,370.30. Following the completion of the sale, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $43,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $50.10.
Shares of LogMeIn (NASDAQ:LOGM) traded down 0.42% on Friday, hitting $43.1179. 28,537 shares of the company’s stock traded hands. LogMeIn has a 1-year low of $28.92 and a 1-year 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 P/E ratio of 687.30.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data 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. Analysts expect that LogMeIn will post $1.09 EPS 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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