Logitech International (NASDAQ:LOGI) Shares Gap Down to $79.44

Shares of Logitech International S.A. (NASDAQ:LOGI) gapped down before the market opened on Tuesday . The stock had previously closed at $79.44, but opened at $75.71. Logitech International shares last traded at $77.70, with a volume of 613,289 shares trading hands.

Analyst Ratings Changes

Several equities analysts have commented on LOGI shares. Berenberg Bank started coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Logitech International in a research report on Tuesday, April 16th. Wedbush reissued a “neutral” rating and set a $92.00 target price on shares of Logitech International in a research report on Tuesday. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, Morgan Stanley reissued an “underweight” rating and set a $75.00 target price (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.43.

Logitech International Stock Performance

The business’s 50 day moving average is $87.01 and its 200 day moving average is $86.49. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.65 and a beta of 0.74.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Prakash Arunkundrum sold 699 shares of Logitech International stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the transaction, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at $6,106,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,572 shares of company stock worth $2,207,555. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Naples Global Advisors LLC increased its holdings in Logitech International by 2.2% in the 1st quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock worth $1,185,000 after acquiring an additional 291 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Logitech International by 327.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 34,764 shares of the technology company’s stock worth $3,107,000 after acquiring an additional 26,624 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Logitech International by 1,932.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 480,655 shares of the technology company’s stock worth $43,098,000 after acquiring an additional 457,006 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Logitech International by 764.4% in the 1st quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock worth $35,000 after acquiring an additional 344 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Logitech International by 2.5% in the 1st quarter. Raymond James & Associates now owns 62,414 shares of the technology company’s stock worth $5,578,000 after acquiring an additional 1,512 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.