Louisiana State Employees Retirement System held its position in shares of LogMein Inc. (NASDAQ:LOGM) during the second quarter, Holdings Channel reports. The fund owned 11,100 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in LogMein were worth $704,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of LOGM. Renaissance Technologies LLC increased its stake in shares of LogMein by 43.0% in the first quarter. Renaissance Technologies LLC now owns 901,000 shares of the company’s stock worth $45,464,000 after buying an additional 270,800 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of LogMein during the second quarter worth $15,298,000. BlackRock Inc. increased its stake in shares of LogMein by 1.1% in the first quarter. BlackRock Inc. now owns 17,141 shares of the company’s stock worth $865,000 after buying an additional 194 shares in the last quarter. Aperio Group LLC increased its stake in shares of 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 in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of LogMein by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 24,182 shares of the company’s stock worth $1,220,000 after buying an additional 277 shares in the last quarter.
Shares of LogMein Inc. (NASDAQ:LOGM) remained flat at $91.33 on Wednesday. The company’s stock had a trading volume of 149,720 shares. The company has a 50-day moving average price of $89.02 and a 200 day moving average price of $69.60. LogMein Inc. has a 12 month low of $35.00 and a 12 month high of $95.99. The stock has a market capitalization of $2.31 billion, a PE ratio of 179.43 and a beta of 1.37.
LogMein (NASDAQ:LOGM) last posted its earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm earned $83.30 million during the quarter, compared to the consensus estimate of $81.80 million. LogMein had a return on equity of 12.99% and a net margin of 4.29%. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. On average, analysts anticipate that LogMein Inc. will post $1.93 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of LogMein from $81.00 to $98.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded shares of LogMein from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. raised shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price on the stock in a research note on Wednesday, July 27th. Barclays PLC raised their target price on shares of LogMein from $57.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of LogMein in a research note on Wednesday, July 27th. Two research 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 company has an average rating of “Buy” and a consensus target price of $84.22.
In other news, SVP Michael J. Donahue sold 6,034 shares of the stock in a transaction that occurred on 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 directly owns 8,534 shares in the company, valued at approximately $721,037.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Donahue sold 4,137 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were 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 $652,017.81. 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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