Seven Eight Capital LP Has $4.41 Million Holdings in LogMeIn Inc (LOGM)

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Seven Eight Capital LP grew its stake in LogMeIn Inc (NASDAQ:LOGM) by 107.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,507 shares of the software maker’s stock after acquiring an additional 25,600 shares during the quarter. Seven Eight Capital LP’s holdings in LogMeIn were worth $4,411,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. UBS Group AG raised its stake in shares of LogMeIn by 34.4% in the first quarter. UBS Group AG now owns 35,039 shares of the software maker’s stock worth $4,048,000 after purchasing an additional 8,973 shares during the last quarter. ING Groep NV purchased a new position in shares of LogMeIn in the second quarter worth $340,000. GAM Holding AG purchased a new position in shares of LogMeIn in the second quarter worth $360,000. Bessemer Group Inc. raised its stake in shares of LogMeIn by 16.8% in the second quarter. Bessemer Group Inc. now owns 1,205,447 shares of the software maker’s stock worth $124,462,000 after purchasing an additional 173,632 shares during the last quarter. Finally, Dupont Capital Management Corp raised its stake in shares of LogMeIn by 7.1% in the second quarter. Dupont Capital Management Corp now owns 14,626 shares of the software maker’s stock worth $1,510,000 after purchasing an additional 974 shares during the last quarter. 98.70% of the stock is currently owned by institutional investors and hedge funds.

LogMeIn stock opened at $81.03 on Friday. The firm has a market cap of $4.25 billion, a P/E ratio of 20.80, a PEG ratio of 1.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.64 and a quick ratio of 0.64. LogMeIn Inc has a one year low of $77.05 and a one year high of $134.80.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $305.13 million. LogMeIn had a return on equity of 6.75% and a net margin of 12.34%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, research analysts anticipate that LogMeIn Inc will post 4.2 earnings per share for the current year.

LOGM has been the subject of a number of research reports. Zacks Investment Research upgraded LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. UBS Group upgraded LogMeIn from a “market perform” rating to an “outperform” rating in a research report on Monday, October 1st. Robert W. Baird cut LogMeIn from an “outperform” rating to a “neutral” rating in a research report on Friday, July 27th. Needham & Company LLC reduced their price objective on LogMeIn from $112.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, September 7th. Finally, BidaskClub upgraded LogMeIn from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $116.27.

In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $84.61, for a total value of $1,692,200.00. Following the completion of the sale, the director now owns 636,966 shares in the company, valued at $53,893,693.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Battles sold 2,530 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $81.13, for a total value of $205,258.90. Following the completion of the sale, the insider now owns 5,468 shares of the company’s stock, valued at approximately $443,618.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,790 shares of company stock valued at $5,190,442. Company insiders own 2.50% of the company’s stock.

LogMeIn Company Profile

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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