Hood River Capital Management LLC purchased a new position in shares of LogMein Inc. (NASDAQ:LOGM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 123,909 shares of the company’s stock, valued at approximately $7,860,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Trillium Asset Management LLC increased its position in shares of LogMein by 2.8% in the second quarter. Trillium Asset Management LLC now owns 31,439 shares of the company’s stock worth $1,994,000 after buying an additional 862 shares in the last quarter. Redwood Investments LLC acquired a new position in shares of LogMein during the second quarter worth $3,096,000. Strs Ohio increased its position in shares of LogMein by 5.6% in the second quarter. Strs Ohio now owns 16,900 shares of the company’s stock worth $1,071,000 after buying an additional 900 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of LogMein during the second quarter worth $15,298,000. Finally, Adams Diversified Equity Fund Inc. acquired a new position in shares of LogMein during the second quarter worth $368,000.
LogMein Inc. (NASDAQ:LOGM) traded up 0.06% during trading on Thursday, hitting $93.48. The company had a trading volume of 133,525 shares. The stock has a 50-day moving average of $87.61 and a 200-day moving average of $68.38. The stock has a market capitalization of $2.37 billion, a PE ratio of 183.65 and a beta of 1.37. LogMein Inc. has a one year low of $35.00 and a one year high of $95.99.
LogMein (NASDAQ:LOGM) last released its earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. The firm earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The company’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts anticipate that LogMein Inc. will post $1.93 EPS for the current year.
LOGM has been the subject of a number of research reports. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday. Barclays PLC raised LogMein from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $82.00 to $105.00 in a research report on Monday. TheStreet raised LogMein from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Piper Jaffray Cos. reissued an “overweight” rating on shares of LogMein in a research report on Wednesday, July 27th. Finally, Needham & Company LLC lifted their price objective on LogMein from $81.00 to $98.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 27th. Two equities research 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 company. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.22.
In other LogMein news, SVP Michael J. Donahue sold 6,034 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $84.49, for a total transaction of $509,812.66. Following the completion of the transaction, the senior vice president now owns 8,534 shares in the company, valued at approximately $721,037.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael J. Donahue sold 4,137 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $80.13, for a total value of $331,497.81. Following the transaction, the senior vice president now owns 8,137 shares of the company’s stock, valued at approximately $652,017.81. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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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