Modera Wealth Management LLC Buys 29,513 Shares of Logitech International S.A. $LOGI

Modera Wealth Management LLC bought a new stake in shares of Logitech International S.A. (NASDAQ:LOGI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,513 shares of the technology company’s stock, valued at approximately $2,981,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in Logitech International by 26.6% in the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock worth $188,847,000 after acquiring an additional 435,000 shares in the last quarter. Amundi grew its stake in shares of Logitech International by 51.2% during the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after acquiring an additional 563,564 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Logitech International by 2,227.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock valued at $98,189,000 after acquiring an additional 1,000,805 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Logitech International by 16.5% during the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after acquiring an additional 129,967 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Logitech International by 75.5% in the 1st quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock valued at $36,115,000 after purchasing an additional 170,485 shares during the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the sale, the insider directly owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Logitech International Price Performance

LOGI stock opened at $95.53 on Monday. The firm’s fifty day simple moving average is $101.98 and its 200-day simple moving average is $99.72. The company has a market capitalization of $14.00 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 5.08 and a beta of 1.21. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company posted $1.45 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Logitech International S.A. will post 5.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday. Wedbush cut their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Finally, Barclays lifted their price objective on shares of Logitech International from $101.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average target price of $106.29.

Logitech International Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.