LogMeIn (NASDAQ:LOGM) Hits New 12-Month Low at $62.08

LogMeIn Inc (NASDAQ:LOGM)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $62.08 and last traded at $65.24, with a volume of 13554 shares trading hands. The stock had previously closed at $67.69.

LOGM has been the topic of a number of research analyst reports. Northland Securities restated a “buy” rating on shares of LogMeIn in a research report on Friday, July 26th. BidaskClub downgraded LogMeIn from a “sell” rating to a “strong sell” rating in a research report on Friday, October 4th. ValuEngine upgraded LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Robert W. Baird set a $85.00 target price on LogMeIn and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research upgraded LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. LogMeIn currently has a consensus rating of “Hold” and an average target price of $91.22.

The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.36 billion, a PE ratio of 14.52, a P/E/G ratio of 3.36 and a beta of 1.09. The company has a fifty day moving average of $68.91 and a 200-day moving average of $73.44.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. LogMeIn had a return on equity of 7.44% and a net margin of 1.82%. The firm had revenue of $317.20 million for the quarter, compared to the consensus estimate of $316.29 million. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that LogMeIn Inc will post 4.02 earnings per share for the current fiscal year.

In related news, Director Peter John Sacripanti sold 7,124 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $70.00, for a total transaction of $498,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Benson sold 1,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $66.96, for a total value of $66,960.00. Following the transaction, the director now directly owns 2,223 shares of the company’s stock, valued at $148,852.08. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of LogMeIn by 2.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 81,742 shares of the software maker’s stock valued at $6,547,000 after purchasing an additional 2,277 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of LogMeIn in the 2nd quarter valued at about $451,000. Diversified Trust Co lifted its holdings in shares of LogMeIn by 8.4% in the 2nd quarter. Diversified Trust Co now owns 5,105 shares of the software maker’s stock valued at $376,000 after purchasing an additional 395 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of LogMeIn by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,842 shares of the software maker’s stock valued at $1,536,000 after purchasing an additional 291 shares during the last quarter. Finally, We Are One Seven LLC lifted its holdings in shares of LogMeIn by 6.0% in the 2nd quarter. We Are One Seven LLC now owns 6,177 shares of the software maker’s stock valued at $455,000 after purchasing an additional 350 shares during the last quarter. 95.59% of the stock is owned by institutional investors and hedge funds.

About LogMeIn (NASDAQ:LOGM)

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.

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