Logitech International (NASDAQ:LOGI) Shares Gap Down to $79.44

Logitech International S.A. (NASDAQ:LOGI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $79.44, but opened at $75.71. Logitech International shares last traded at $77.70, with a volume of 613,289 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOGI. Wedbush reissued a “neutral” rating and issued a $92.00 price objective on shares of Logitech International in a research report on Tuesday. Citigroup upped their target price on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Berenberg Bank assumed coverage on Logitech International in a research report on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective for the company. Barclays increased their price objective on Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.43.

Logitech International Price Performance

The stock’s fifty day simple moving average is $87.01 and its 200-day simple moving average is $86.49. The company has a market capitalization of $12.38 billion, a P/E ratio of 25.96, a PEG ratio of 1.65 and a beta of 0.74.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the sale, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at approximately $6,106,320. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock worth $2,207,555 over the last quarter. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. boosted its stake in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after acquiring an additional 121,060 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Logitech International by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock valued at $267,457,000 after acquiring an additional 760,263 shares in the last quarter. Allworth Financial LP lifted its position in Logitech International by 249.1% in the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock valued at $52,000 after acquiring an additional 538 shares in the last quarter. Qtron Investments LLC bought a new stake in Logitech International in the 3rd quarter valued at $585,000. Finally, Tudor Investment Corp Et Al lifted its position in Logitech International by 73.3% in the 3rd quarter. Tudor Investment Corp Et Al now owns 58,914 shares of the technology company’s stock valued at $4,062,000 after acquiring an additional 24,923 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; 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.