JPMorgan Chase & Co. increased its stake in LogMein, Inc. (NASDAQ:LOGM) by 118.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,198 shares of the software maker’s stock after buying an additional 109,796 shares during the period. JPMorgan Chase & Co. owned approximately 0.38% of LogMein worth $19,713,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in LOGM. Nikko Asset Management Americas Inc. bought a new stake in LogMein during the first quarter valued at approximately $105,000. Creative Planning boosted its stake in LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Asset Management One Co. Ltd. bought a new stake in LogMein during the fourth quarter valued at approximately $128,000. Amica Pension Fund Board of Trustees bought a new stake in LogMein during the first quarter valued at approximately $151,000. Finally, Amica Mutual Insurance Co. bought a new stake in LogMein during the first quarter valued at approximately $152,000. Institutional investors and hedge funds own 97.39% of the company’s stock.
LogMein, Inc. (NASDAQ LOGM) opened at 108.60 on Friday. The company’s 50-day moving average price is $112.49 and its 200-day moving average price is $103.40. The firm’s market cap is $5.72 billion. LogMein, Inc. has a one year low of $57.81 and a one year high of $123.95.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, May 4th. The software maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.09. The firm had revenue of $201.10 million for the quarter, compared to the consensus estimate of $195.74 million. LogMein had a positive return on equity of 5.66% and a negative net margin of 3.35%. The firm’s revenue for the quarter was up 152.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, analysts anticipate that LogMein, Inc. will post $3.87 EPS for the current year.
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Several equities research analysts have recently commented on LOGM shares. TheStreet upgraded LogMein from a “c” rating to a “b-” rating in a research note on Wednesday, April 19th. Needham & Company LLC restated a “buy” rating and set a $110.00 price target on shares of LogMein in a research note on Friday, March 10th. BidaskClub cut LogMein from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research cut LogMein from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, Cowen and Company upped their price objective on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $115.30.
In other LogMein news, CEO William Raymond Wagner sold 8,750 shares of LogMein stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $113.94, for a total transaction of $996,975.00. Following the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $6,147,404.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Battles sold 2,572 shares of LogMein stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $114.06, for a total value of $293,362.32. Following the sale, the insider now directly owns 2,790 shares in the company, valued at approximately $318,227.40. The disclosure for this sale can be found here. Insiders have sold a total of 107,081 shares of company stock worth $12,073,839 in the last ninety days. 2.50% of the stock is owned by company insiders.
LogMein Company Profile
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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