LogMeIn Inc (NASDAQ:LOGM) has received an average recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $95.38.
A number of research analysts have recently weighed in on the company. BidaskClub upgraded LogMeIn from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. KeyCorp dropped their target price on LogMeIn from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 15th. Oppenheimer lowered LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a report on Friday, February 15th. Needham & Company LLC lowered LogMeIn from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, Barclays lowered LogMeIn from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $104.00 to $74.00 in a report on Friday.
LogMeIn stock traded up $1.27 during mid-day trading on Monday, reaching $81.65. The stock had a trading volume of 844,900 shares, compared to its average volume of 798,965. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63. LogMeIn has a fifty-two week low of $74.87 and a fifty-two week high of $123.00. The stock has a market capitalization of $4.09 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03.
In related news, Director Michael K. Simon sold 22,500 shares of LogMeIn stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.17, for a total transaction of $1,826,325.00. Following the sale, the director now directly owns 547,074 shares in the company, valued at $44,405,996.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in LogMeIn by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,579,956 shares of the software maker’s stock worth $408,073,000 after acquiring an additional 63,104 shares during the period. Vanguard Group Inc lifted its holdings in LogMeIn by 1.4% during the third quarter. Vanguard Group Inc now owns 4,579,956 shares of the software maker’s stock worth $408,073,000 after acquiring an additional 63,104 shares during the period. BlackRock Inc. lifted its holdings in LogMeIn by 1.0% during the fourth quarter. BlackRock Inc. now owns 4,547,403 shares of the software maker’s stock worth $370,931,000 after acquiring an additional 45,603 shares during the period. Bank of New York Mellon Corp lifted its holdings in LogMeIn by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,707,533 shares of the software maker’s stock worth $139,285,000 after acquiring an additional 43,653 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in LogMeIn by 51.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock worth $90,248,000 after acquiring an additional 374,020 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.
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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