Barings LLC Grows Holdings in LogMein, Inc. (LOGM)

Barings LLC grew its position in LogMein, Inc. (NASDAQ:LOGM) by 46.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,530 shares of the software maker’s stock after purchasing an additional 2,382 shares during the period. Barings LLC’s holdings in LogMein were worth $829,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in LogMein by 45.9% during the second quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock worth $442,745,000 after buying an additional 1,333,687 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in LogMein by 49.8% during the second quarter. Bank of New York Mellon Corp now owns 1,564,888 shares of the software maker’s stock worth $163,531,000 after buying an additional 520,318 shares during the last quarter. Wells Fargo & Company MN increased its holdings in LogMein by 75.6% during the third quarter. Wells Fargo & Company MN now owns 1,521,683 shares of the software maker’s stock worth $167,461,000 after buying an additional 655,296 shares during the last quarter. American Century Companies Inc. increased its holdings in LogMein by 14.4% during the third quarter. American Century Companies Inc. now owns 1,164,447 shares of the software maker’s stock worth $128,147,000 after buying an additional 146,549 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in LogMein by 5.5% during the third quarter. First Trust Advisors LP now owns 894,244 shares of the software maker’s stock worth $98,412,000 after buying an additional 46,968 shares during the last quarter. Institutional investors own 99.32% of the company’s stock.

LogMein, Inc. (NASDAQ LOGM) opened at $113.50 on Tuesday. The firm has a market cap of $6,142.82, a PE ratio of 43.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.28. LogMein, Inc. has a 1 year low of $90.35 and a 1 year high of $129.51.

LogMein (NASDAQ:LOGM) last issued its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $269.30 million during the quarter, compared to analyst estimates of $270.56 million. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The company’s quarterly revenue was up 216.5% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. equities analysts expect that LogMein, Inc. will post 3.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. LogMein’s dividend payout ratio is presently 909.17%.

In other LogMein news, insider Christopher Battles sold 1,136 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $119.43, for a total transaction of $135,672.48. Following the completion of the transaction, the insider now owns 2,760 shares in the company, valued at $329,626.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Benson sold 3,016 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total transaction of $336,585.60. Following the transaction, the director now owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The disclosure for this sale can be found here. Insiders have sold 24,152 shares of company stock valued at $2,710,858 in the last quarter. Company insiders own 2.50% of the company’s stock.

LOGM has been the subject of a number of research analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $140.00 price objective on shares of LogMein in a report on Monday, September 4th. Robert W. Baird upgraded shares of LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a report on Tuesday, October 3rd. Piper Jaffray Companies restated a “buy” rating and set a $170.00 price objective on shares of LogMein in a report on Tuesday, October 24th. Cowen restated a “buy” rating and set a $134.00 price objective on shares of LogMein in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $135.96.

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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.

Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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