Stone Ridge Asset Management LLC Purchases Shares of 2,390 LogMeIn Inc (LOGM)

Stone Ridge Asset Management LLC purchased a new position in shares of LogMeIn Inc (NASDAQ:LOGM) during the 3rd quarter, Holdings Channel reports. The firm purchased 2,390 shares of the software maker’s stock, valued at approximately $213,000.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of LogMeIn by 1.2% during the second quarter. BlackRock Inc. now owns 4,489,954 shares of the software maker’s stock worth $463,588,000 after purchasing an additional 54,657 shares during the last quarter. First Trust Advisors LP boosted its holdings in LogMeIn by 20.5% in the third quarter. First Trust Advisors LP now owns 1,806,406 shares of the software maker’s stock valued at $160,951,000 after acquiring an additional 307,690 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in LogMeIn by 16.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,771 shares of the software maker’s stock valued at $123,473,000 after acquiring an additional 200,180 shares during the last quarter. American Century Companies Inc. boosted its holdings in LogMeIn by 3.8% in the second quarter. American Century Companies Inc. now owns 1,019,213 shares of the software maker’s stock valued at $105,234,000 after acquiring an additional 37,424 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in LogMeIn in the second quarter valued at approximately $69,257,000. Institutional investors own 90.99% of the company’s stock.

Several analysts recently commented on the company. BidaskClub upgraded LogMeIn from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded LogMeIn from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Friday, November 16th. ValuEngine upgraded LogMeIn from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Barclays upped their target price on LogMeIn from $112.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, October 26th. Finally, Piper Jaffray Companies reduced their target price on LogMeIn from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. LogMeIn has an average rating of “Buy” and an average price target of $110.10.

In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $85.70, for a total transaction of $1,714,000.00. Following the transaction, the director now directly owns 607,026 shares in the company, valued at approximately $52,022,128.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 60,000 shares of company stock worth $5,058,800 over the last 90 days. Company insiders own 2.50% of the company’s stock.

LogMeIn stock opened at $85.83 on Friday. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. LogMeIn Inc has a 52-week low of $74.87 and a 52-week high of $134.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.07.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $309.58 million for the quarter, compared to analysts’ expectations of $302.92 million. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. As a group, sell-side analysts forecast that LogMeIn Inc will post 4.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Tuesday, November 13th. LogMeIn’s payout ratio is 35.82%.

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About LogMeIn

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.

Further Reading: Candlestick

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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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