Nationwide Fund Advisors increased its position in shares of LogMein Inc. (NASDAQ:LOGM) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,866 shares of the company’s stock after buying an additional 5,404 shares during the period. Nationwide Fund Advisors owned about 0.15% of LogMein worth $2,338,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new stake in LogMein during the first quarter worth about $146,000. Janney Montgomery Scott LLC bought a new stake in LogMein during the second quarter worth about $208,000. Cadence Capital Management LLC bought a new stake in LogMein during the second quarter worth about $247,000. Aperio Group LLC increased its stake in LogMein by 35.6% in the first quarter. Aperio Group LLC now owns 4,968 shares of the company’s stock worth $251,000 after buying an additional 1,305 shares during the period. Finally, Suntrust Banks Inc. bought a new stake in LogMein during the second quarter worth about $266,000.
Shares of LogMein Inc. (NASDAQ:LOGM) traded down 0.77% on Tuesday, hitting $92.55. 6,909 shares of the stock traded hands. LogMein Inc. has a 12-month low of $35.00 and a 12-month high of $95.99. The firm’s 50-day moving average is $88.70 and its 200 day moving average is $69.44. The firm has a market cap of $2.34 billion, a P/E ratio of 181.83 and a beta of 1.37.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The business had revenue of $83.30 million for the quarter, compared to analyst estimates of $81.80 million. LogMein had a net margin of 4.29% and a return on equity of 12.99%. The company’s revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. Equities research analysts forecast that LogMein Inc. will post $1.93 EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. Piper Jaffray Cos. restated an “overweight” rating on shares of LogMein in a report on Wednesday, July 27th. JPMorgan Chase & Co. upgraded shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 price objective for the company in a report on Wednesday, July 27th. Barclays PLC lifted their price objective on shares of LogMein from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Friday, July 15th. Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Wednesday, October 5th. Finally, Cowen and Company cut shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a report on Tuesday, July 5th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $84.22.
In related news, Director Steven G. Chambers sold 4,540 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $84.42, for a total value of $383,266.80. Following the transaction, the director now owns 1,850 shares in the company, valued at $156,177. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marilyn Matz sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $83.20, for a total transaction of $41,600.00. Following the completion of the transaction, the director now owns 1,950 shares in the company, valued at approximately $162,240. The disclosure for this sale can be found here. 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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