Cambridge Investment Research Advisors Inc. reduced its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 45.3% during the second quarter, HoldingsChannel.com reports. The fund owned 2,233 shares of the software maker’s stock after selling 1,851 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in LogMeIn were worth $231,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. grew its holdings in LogMeIn by 299.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,350 shares of the software maker’s stock worth $139,000 after acquiring an additional 1,012 shares during the period. Assetmark Inc. grew its holdings in LogMeIn by 77.5% during the first quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock worth $166,000 after acquiring an additional 627 shares during the period. Osborn Williams & Donohoe LLC acquired a new position in LogMeIn during the second quarter worth about $200,000. Sigma Planning Corp grew its holdings in LogMeIn by 39.5% during the second quarter. Sigma Planning Corp now owns 2,580 shares of the software maker’s stock worth $266,000 after acquiring an additional 730 shares during the period. Finally, Synovus Financial Corp grew its holdings in LogMeIn by 7,912.8% during the second quarter. Synovus Financial Corp now owns 3,125 shares of the software maker’s stock worth $324,000 after acquiring an additional 3,086 shares during the period. 98.74% of the stock is currently owned by hedge funds and other institutional investors.
LOGM has been the topic of a number of research analyst reports. ValuEngine lowered LogMeIn from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. Barclays lifted their target price on LogMeIn from $105.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Zacks Investment Research raised LogMeIn from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. BidaskClub raised LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $96.00 target price (down from $145.00) on shares of LogMeIn in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. LogMeIn currently has an average rating of “Hold” and a consensus target price of $117.90.
Shares of LOGM opened at $87.45 on Monday. The stock has a market capitalization of $4.54 billion, a P/E ratio of 26.10, a P/E/G ratio of 1.19 and a beta of 1.09. LogMeIn Inc has a 1-year low of $77.05 and a 1-year high of $134.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 0.64.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.07. The firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $305.13 million. LogMeIn had a return on equity of 6.75% and a net margin of 12.34%. LogMeIn’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. equities analysts forecast that LogMeIn Inc will post 4.2 EPS for the current year.
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.
Recommended Story: What is Compound Annual Growth Rate (CAGR)?
Want to see what other hedge funds are holding LOGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LogMeIn Inc (NASDAQ:LOGM).
Receive News & Ratings for LogMeIn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMeIn and related companies with MarketBeat.com's FREE daily email newsletter.