LogMeIn Inc (LOGM) Director Michael K. Simon Sells 22,500 Shares

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LogMeIn Inc (NASDAQ:LOGM) Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.17, for a total value of $1,826,325.00. Following the transaction, the director now directly owns 547,074 shares of the company’s stock, valued at approximately $44,405,996.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

LOGM opened at $81.09 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.13 billion, a PE ratio of 17.82, a P/E/G ratio of 1.22 and a beta of 1.03. LogMeIn Inc has a 1 year low of $74.87 and a 1 year high of $128.35.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, February 14th. The software maker reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.06. The firm had revenue of $310.70 million during the quarter, compared to analyst estimates of $306.57 million. LogMeIn had a return on equity of 7.69% and a net margin of 6.17%. LogMeIn’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. Sell-side analysts forecast that LogMeIn Inc will post 3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 25th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, February 22nd. This is a positive change from LogMeIn’s previous quarterly dividend of $0.30. LogMeIn’s payout ratio is currently 28.57%.

Several institutional investors and hedge funds have recently bought and sold shares of LOGM. US Bancorp DE raised its position in shares of LogMeIn by 23.5% in the 3rd quarter. US Bancorp DE now owns 4,376 shares of the software maker’s stock worth $390,000 after purchasing an additional 833 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of LogMeIn by 318.6% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 61,412 shares of the software maker’s stock worth $5,472,000 after purchasing an additional 46,740 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of LogMeIn by 204.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 14,154 shares of the software maker’s stock worth $1,261,000 after purchasing an additional 9,512 shares during the last quarter. Dupont Capital Management Corp increased its holdings in LogMeIn by 100.1% in the 3rd quarter. Dupont Capital Management Corp now owns 29,268 shares of the software maker’s stock worth $2,608,000 after buying an additional 14,642 shares in the last quarter. Finally, Stone Ridge Asset Management LLC bought a new stake in LogMeIn in the 3rd quarter worth about $213,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on the company. ValuEngine raised LogMeIn from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research raised LogMeIn from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Friday, November 16th. Mizuho assumed coverage on LogMeIn in a research report on Wednesday. They set a “neutral” rating and a $88.00 price objective for the company. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a research report on Thursday, November 22nd. Finally, Oppenheimer lowered LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $101.90.

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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.

See Also: Understanding Price to Earnings Ratio (PE)

Insider Buying and Selling by Quarter for LogMeIn (NASDAQ:LOGM)

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