LogMein Inc. (LOGM) Position Maintained by Fisher Asset Management LLC
Fisher Asset Management LLC maintained its position in shares of LogMein Inc. (NASDAQ:LOGM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,033 shares of the company’s stock at the end of the third quarter. Fisher Asset Management LLC’s holdings in LogMein were worth $4,703,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of LogMein by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,956,927 shares of the company’s stock worth $124,129,000 after buying an additional 54,131 shares during the period. BlackRock Fund Advisors boosted its position in shares of LogMein by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,593,213 shares of the company’s stock worth $101,058,000 after buying an additional 44,931 shares during the period. FMR LLC boosted its position in shares of LogMein by 39.2% in the second quarter. FMR LLC now owns 1,111,447 shares of the company’s stock worth $70,499,000 after buying an additional 313,112 shares during the period. Bank of New York Mellon Corp boosted its position in shares of LogMein by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 942,144 shares of the company’s stock worth $59,761,000 after buying an additional 62,193 shares during the period. Finally, State Street Corp boosted its position in shares of LogMein by 2.7% in the second quarter. State Street Corp now owns 483,273 shares of the company’s stock worth $30,652,000 after buying an additional 12,705 shares during the period.
LogMein Inc. (NASDAQ:LOGM) traded down 1.37% during midday trading on Tuesday, reaching $104.15. The company’s stock had a trading volume of 258,140 shares. LogMein Inc. has a 12-month low of $35.00 and a 12-month high of $110.10. The firm has a 50 day moving average price of $96.18 and a 200-day moving average price of $80.03. The company has a market cap of $2.65 billion, a P/E ratio of 387.17 and a beta of 1.20.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. LogMein had a return on equity of 13.40% and a net margin of 2.16%. The business had revenue of $85.10 million for the quarter, compared to the consensus estimate of $84.29 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, equities research analysts predict that LogMein Inc. will post $1.99 earnings per share for the current fiscal year.
The firm also recently declared a special dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Monday, November 7th were issued a $0.50 dividend. The ex-dividend date was Thursday, November 3rd.
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A number of equities analysts have commented on LOGM shares. Barclays PLC raised LogMein from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $82.00 to $105.00 in a research note on Monday, October 3rd. Piper Jaffray Cos. reiterated a “buy” rating and issued a $120.00 price objective on shares of LogMein in a research report on Tuesday, November 22nd. Needham & Company LLC cut their price objective on LogMein from $114.00 to $98.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 14th. Finally, Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Wednesday, October 5th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. LogMein presently has a consensus rating of “Buy” and a consensus price target of $89.78.
In other news, Director Michael K. Simon sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $91.65, for a total value of $4,582,500.00. Following the sale, the director now directly owns 857,948 shares in the company, valued at $78,630,934.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.
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 product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
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