LogMein Inc. (NASDAQ:LOGM) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Shares of LogMein (NASDAQ:LOGM) traded up 2.51% on Wednesday, hitting $85.72. 1,394,696 shares of the stock traded hands. The company has a market cap of $2.15 billion and a PE ratio of 168.41. LogMein has a 12 month low of $35.00 and a 12 month high of $86.40. The firm’s 50 day moving average is $64.22 and its 200-day moving average is $56.09.
LogMein (NASDAQ:LOGM) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The business earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. The company’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. Equities analysts predict that LogMein will post $1.93 earnings per share for the current year.
In other LogMein news, Director Michael K. Simon sold 11,296 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $62.52, for a total value of $706,225.92. Following the sale, the director now directly owns 777,104 shares of the company’s stock, valued at approximately $48,584,542.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Edward K. Herdiech sold 8,809 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $59.85, for a total value of $527,218.65. Following the completion of the sale, the chief financial officer now directly owns 12,818 shares in the company, valued at $767,157.30. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of LOGM. RS Investment Management Co. LLC raised its stake in shares of LogMein by 3.0% in the fourth quarter. RS Investment Management Co. LLC now owns 3,050,576 shares of the company’s stock worth $204,694,000 after buying an additional 88,419 shares during the last quarter. Nichols Asset Management LLC raised its position in LogMein by 105.1% in the fourth quarter. Nichols Asset Management LLC now owns 130,801 shares of the company’s stock valued at $8,777,000 after buying an additional 67,030 shares in the last quarter. Bailard Inc. purchased a new position in LogMein during the fourth quarter valued at $1,042,000. Principal Financial Group Inc. raised its position in LogMein by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 170,872 shares of the company’s stock valued at $11,465,000 after buying an additional 8,402 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in LogMein by 291.1% in the fourth quarter. Wells Fargo & Company MN now owns 334,576 shares of the company’s stock valued at $22,449,000 after buying an additional 249,021 shares in the last quarter.
LogMeIn, Inc provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things, all of which are accessible with an Internet connection.
