Robert Calderoni Sells 12,197 Shares of LogMein, Inc. (LOGM) Stock
LogMein, Inc. (NASDAQ:LOGM) Director Robert Calderoni sold 12,197 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $116.02, for a total value of $1,415,095.94. Following the completion of the transaction, the director now owns 4,109 shares in the company, valued at $476,726.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of LogMein, Inc. (NASDAQ LOGM) traded down 1.53% during trading on Monday, reaching $109.50. The company’s stock had a trading volume of 772,394 shares. The stock’s 50 day moving average is $112.71 and its 200 day moving average is $103.31. The firm’s market cap is $5.76 billion. LogMein, Inc. has a one year low of $57.81 and a one year high of $123.95.
LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, May 4th. The software maker reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.09. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The business had revenue of $201.10 million for the quarter, compared to the consensus estimate of $195.74 million. During the same period in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 152.3% compared to the same quarter last year. On average, equities analysts forecast that LogMein, Inc. will post $3.87 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. bought a new stake in LogMein during the first quarter valued at approximately $105,000. Creative Planning increased its stake in LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Asset Management One Co. Ltd. bought a new stake in LogMein during the fourth quarter valued at approximately $128,000. Amica Pension Fund Board of Trustees bought a new stake in LogMein during the first quarter valued at approximately $151,000. Finally, Amica Mutual Insurance Co. bought a new stake in LogMein during the first quarter valued at approximately $152,000. 97.39% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on LOGM. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 target price (up from $110.00) on shares of LogMein in a report on Friday, May 5th. Cowen and Company increased their target price on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Zacks Investment Research cut LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Vetr cut LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price on the stock. in a report on Wednesday, April 26th. Finally, TheStreet upgraded LogMein from a “c” rating to a “b-” rating in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $115.30.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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