LogMein, Inc. (LOGM) Insider Sells $135,672.48 in Stock
LogMein, Inc. (NASDAQ:LOGM) insider Christopher Battles sold 1,136 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total value of $135,672.48. Following the completion of the sale, the insider now owns 2,760 shares in the company, valued at approximately $329,626.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $269.30 million for the quarter, compared to analyst estimates of $270.56 million. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The business’s quarterly revenue was up 216.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, November 7th. LogMein’s dividend payout ratio (DPR) is presently 909.17%.
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Several equities analysts recently issued reports on the company. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research report on Wednesday. Cowen and Company reaffirmed a “buy” rating and issued a $145.00 price objective on shares of LogMein in a research report on Sunday. Barclays PLC upped their price objective on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $170.00 price objective on shares of LogMein in a research report on Tuesday, October 24th. Finally, Robert W. Baird raised LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. LogMein currently has an average rating of “Buy” and an average target price of $135.96.
Several institutional investors and hedge funds have recently made changes to their positions in LOGM. Penserra Capital Management LLC grew its holdings in shares of LogMein by 316.8% during the second quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after buying an additional 6,251 shares during the last quarter. Creative Planning grew its holdings in shares of LogMein by 0.3% during the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after buying an additional 3 shares during the last quarter. Reliance Trust Co. of Delaware purchased a new stake in shares of LogMein during the third quarter valued at $201,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of LogMein during the second quarter valued at $203,000. Finally, American Capital Management Inc. purchased a new stake in shares of LogMein during the second quarter valued at $203,000. 95.68% of the stock is currently owned by hedge funds and other institutional investors.
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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