Northern Trust Corp lifted its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,306 shares of the software maker’s stock after buying an additional 4,168 shares during the period. Northern Trust Corp owned about 0.92% of LogMeIn worth $49,076,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in LogMeIn by 1.2% during the second quarter. BlackRock Inc. now owns 4,489,954 shares of the software maker’s stock valued at $463,588,000 after purchasing an additional 54,657 shares during the last quarter. First Trust Advisors LP boosted its position in LogMeIn by 23.4% during the second quarter. First Trust Advisors LP now owns 1,498,716 shares of the software maker’s stock valued at $154,742,000 after purchasing an additional 284,212 shares during the last quarter. Bessemer Group Inc. boosted its position in LogMeIn by 16.8% during the second quarter. Bessemer Group Inc. now owns 1,205,447 shares of the software maker’s stock valued at $124,462,000 after purchasing an additional 173,632 shares during the last quarter. American Century Companies Inc. boosted its position in LogMeIn by 3.8% during the second quarter. American Century Companies Inc. now owns 1,019,213 shares of the software maker’s stock valued at $105,234,000 after purchasing an additional 37,424 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in LogMeIn during the second quarter valued at approximately $69,257,000. 98.73% of the stock is owned by institutional investors.
Several research analysts recently commented on LOGM shares. Zacks Investment Research raised LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. UBS Group raised LogMeIn from a “market perform” rating to an “outperform” rating in a research report on Monday, October 1st. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Oppenheimer raised LogMeIn from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Monday, October 1st. Finally, Needham & Company LLC reduced their price target on LogMeIn from $112.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $116.73.
NASDAQ:LOGM opened at $82.71 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. LogMeIn Inc has a 12-month low of $77.05 and a 12-month high of $134.80.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 26th. The software maker reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $305.13 million. LogMeIn had a return on equity of 6.75% and a net margin of 12.34%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Equities research analysts predict that LogMeIn Inc will post 4.2 EPS for the current fiscal year.
In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $80.92, for a total value of $1,618,400.00. Following the sale, the director now owns 664,053 shares in the company, valued at $53,735,168.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Battles sold 2,530 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $81.13, for a total value of $205,258.90. Following the completion of the sale, the insider now owns 5,468 shares in the company, valued at approximately $443,618.84. The disclosure for this sale can be found here. Insiders sold 62,790 shares of company stock worth $5,190,442 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
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