Public Employees Retirement System of Ohio cut its holdings in shares of LogMeIn Inc (NASDAQ:LOGM) by 9.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,737 shares of the software maker’s stock after selling 9,333 shares during the quarter. Public Employees Retirement System of Ohio owned 0.17% of LogMeIn worth $9,059,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bronfman E.L. Rothschild L.P. increased its holdings in shares of LogMeIn by 299.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,350 shares of the software maker’s stock valued at $139,000 after purchasing an additional 1,012 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of LogMeIn by 10,016.5% during the 1st quarter. Summit Trail Advisors LLC now owns 143,452 shares of the software maker’s stock valued at $143,000 after purchasing an additional 142,034 shares in the last quarter. Assetmark Inc. increased its holdings in shares of LogMeIn by 77.5% during the 1st quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock valued at $166,000 after purchasing an additional 627 shares in the last quarter. Osborn Williams & Donohoe LLC purchased a new position in shares of LogMeIn during the 2nd quarter valued at approximately $200,000. Finally, Global X Management Co LLC purchased a new position in shares of LogMeIn during the 2nd quarter valued at approximately $216,000. 98.73% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on LOGM shares. Barclays lifted their target price on shares of LogMeIn from $105.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, September 7th. ValuEngine lowered shares of LogMeIn from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. Zacks Investment Research raised shares of LogMeIn from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. BidaskClub raised shares of 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $117.90.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $307.00 million during the quarter, compared to analyst estimates of $305.13 million. LogMeIn had a net margin of 12.34% and a return on equity of 6.75%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. equities research analysts expect that LogMeIn Inc will post 4.2 earnings per share for the current year.
In related news, insider Christopher Battles sold 2,530 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $443,618.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael K. Simon sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $80.92, for a total transaction of $1,618,400.00. Following the completion of the sale, the director now directly owns 664,053 shares of the company’s stock, valued at approximately $53,735,168.76. The disclosure for this sale can be found here. In the last three months, insiders sold 62,790 shares of company stock valued at $5,190,442. 2.50% of the stock is owned by insiders.
LogMeIn Company Profile
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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