LogMeIn CEO Michael K. Simon Sells 25,000 Shares (LOGM)
LogMeIn (NASDAQ:LOGM) CEO Michael K. Simon sold 25,000 shares of LogMeIn stock on the open market in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $42.61, for a total value of $1,065,250.00. Following the completion of the transaction, the chief executive officer now directly owns 633,085 shares in the company, valued at approximately $26,975,752. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on LOGM. 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $50.10.
LogMeIn (NASDAQ:LOGM) traded up 0.80% on Thursday, hitting $43.06. The stock had a trading volume of 221,834 shares. LogMeIn has a 52-week low of $29.25 and a 52-week high of $47.69. The stock has a 50-day moving average of $41.88 and a 200-day moving average of $42.92. The company has a market cap of $1.060 billion and a price-to-earnings ratio of 678.10.
LogMeIn (NASDAQ:LOGM) last announced its earnings results 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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