Timpani Capital Management LLC raised its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 75.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,690 shares of the software maker’s stock after acquiring an additional 8,020 shares during the quarter. Timpani Capital Management LLC’s holdings in LogMein were worth $1,953,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Creative Planning increased its position in LogMein by 0.3% in the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after purchasing an additional 3 shares during the period. Renaissance Group LLC increased its position in LogMein by 0.9% in the second quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock worth $360,000 after purchasing an additional 32 shares during the period. Cadence Capital Management LLC increased its position in LogMein by 0.8% in the first quarter. Cadence Capital Management LLC now owns 5,452 shares of the software maker’s stock worth $532,000 after purchasing an additional 42 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in LogMein by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,140 shares of the software maker’s stock worth $224,000 after purchasing an additional 189 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in LogMein by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 31,409 shares of the software maker’s stock worth $3,280,000 after purchasing an additional 236 shares during the period. 95.69% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on LOGM. Northland Securities reiterated a “buy” rating on shares of LogMein in a research report on Friday, July 28th. Piper Jaffray Companies restated an “overweight” rating and issued a $170.00 target price on shares of LogMein in a research note on Wednesday, August 9th. Cowen and Company restated an “outperform” rating and issued a $134.00 target price (up previously from $130.00) on shares of LogMein in a research note on Sunday, July 30th. KeyCorp upgraded LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Friday, July 28th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $140.00 target price on shares of LogMein in a research note on Monday, September 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $131.85.
In other LogMein news, insider Christopher Battles sold 721 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total value of $84,919.38. Following the sale, the insider now directly owns 2,036 shares of the company’s stock, valued at $239,800.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the completion of the sale, the director now directly owns 790,977 shares in the company, valued at $92,014,354.41. The disclosure for this sale can be found here. Insiders have sold 69,319 shares of company stock worth $7,922,367 over the last three months. Corporate insiders own 2.50% of the company’s stock.
LogMein, Inc. (NASDAQ LOGM) traded down 0.31% during mid-day trading on Friday, hitting $111.20. The stock had a trading volume of 650,664 shares. The stock’s market capitalization is $5.86 billion. LogMein, Inc. has a 52 week low of $86.22 and a 52 week high of $123.95. The company’s 50 day moving average is $113.77 and its 200-day moving average is $108.51.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to the consensus estimate of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business’s quarterly revenue was up 220.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, analysts expect that LogMein, Inc. will post $4.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, August 7th. LogMein’s dividend payout ratio (DPR) is presently -909.01%.
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 core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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