Stone Ridge Asset Management LLC acquired a new position in shares of LogMeIn Inc (NASDAQ:LOGM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,900 shares of the software maker’s stock, valued at approximately $2,050,000.
Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in LogMeIn by 341.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 330,181 shares of the software maker’s stock worth $35,429,000 after purchasing an additional 255,338 shares during the last quarter. AXA purchased a new position in LogMeIn during the 3rd quarter worth $6,042,000. Cubist Systematic Strategies LLC grew its position in LogMeIn by 31.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 26,593 shares of the software maker’s stock worth $2,927,000 after purchasing an additional 6,360 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of LogMeIn by 346,435.8% in the 4th quarter. Bessemer Group Inc. now owns 571,784 shares of the software maker’s stock worth $65,470,000 after acquiring an additional 571,619 shares during the period. Finally, 361 Capital LLC acquired a new stake in shares of LogMeIn in the 3rd quarter worth $824,000. 99.23% of the stock is currently owned by institutional investors.
Shares of LogMeIn Inc (LOGM) opened at $127.50 on Wednesday. LogMeIn Inc has a 52 week low of $92.72 and a 52 week high of $134.80. The company has a market cap of $6,698.06, a price-to-earnings ratio of 71.63, a PEG ratio of 1.82 and a beta of 1.41.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 12th were paid a $0.30 dividend. This is a boost from LogMeIn’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.94%. LogMeIn’s dividend payout ratio (DPR) is 67.42%.
LOGM has been the subject of several recent analyst reports. BidaskClub upgraded shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 10th. Zacks Investment Research cut shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Needham & Company LLC reduced their target price on shares of LogMeIn from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, December 20th. Finally, Oppenheimer restated a “hold” rating on shares of LogMeIn in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. LogMeIn currently has a consensus rating of “Buy” and an average target price of $137.63.
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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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