Security National Bank trimmed its holdings in Logitech International S.A. (NASDAQ:LOGI) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,131 shares of the technology company’s stock after selling 3,076 shares during the quarter. Logitech International comprises approximately 2.7% of Security National Bank’s portfolio, making the stock its 8th largest holding. Security National Bank owned approximately 0.05% of Logitech International worth $9,221,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bartlett & Co. LLC purchased a new stake in shares of Logitech International during the 4th quarter valued at approximately $36,000. Bessemer Group Inc. purchased a new stake in shares of Logitech International during the 4th quarter valued at approximately $37,000. Rational Advisors LLC purchased a new stake in shares of Logitech International during the 4th quarter valued at approximately $51,000. Captrust Financial Advisors raised its position in shares of Logitech International by 16,950.0% during the 4th quarter. Captrust Financial Advisors now owns 682 shares of the technology company’s stock valued at $66,000 after buying an additional 678 shares during the period. Finally, JJJ Advisors Inc. raised its position in shares of Logitech International by 453.7% during the 4th quarter. JJJ Advisors Inc. now owns 908 shares of the technology company’s stock valued at $88,000 after buying an additional 744 shares during the period. 33.66% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Bracken Darrell sold 41,666 shares of the company’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $105.64, for a total value of $4,401,596.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Didier Hirsch sold 2,679 shares of the company’s stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $102.50, for a total transaction of $274,597.50. Following the completion of the sale, the director now directly owns 6,880 shares of the company’s stock, valued at $705,200. The disclosure for this sale can be found here. Insiders sold 86,015 shares of company stock valued at $9,166,970 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Sunday, January 17th. The technology company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $1.32. Logitech International had a net margin of 18.31% and a return on equity of 38.26%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. On average, sell-side analysts predict that Logitech International S.A. will post 3.99 earnings per share for the current year.
Several analysts have recently commented on LOGI shares. Zacks Investment Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, March 23rd. Citigroup boosted their target price on Logitech International from $110.00 to $130.00 in a research report on Wednesday, January 20th. Credit Suisse Group reissued an “outperform” rating on shares of Logitech International in a research report on Tuesday, March 2nd. UBS Group reissued a “neutral” rating on shares of Logitech International in a research report on Monday, February 22nd. Finally, Morgan Stanley boosted their target price on Logitech International from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, March 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $109.89.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences. The company offers pointing devices, such as wireless mouse and trackball; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.
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