Parametric Portfolio Associates LLC Boosts Position in LogMeIn Inc (NASDAQ:LOGM)

Parametric Portfolio Associates LLC lifted its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,379 shares of the software maker’s stock after acquiring an additional 8,676 shares during the period. Parametric Portfolio Associates LLC’s holdings in LogMeIn were worth $12,045,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC lifted its stake in LogMeIn by 59.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock worth $45,000 after acquiring an additional 211 shares in the last quarter. IFP Advisors Inc grew its position in shares of LogMeIn by 853.7% in the fourth quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock valued at $63,000 after purchasing an additional 700 shares during the last quarter. Enlightenment Research LLC acquired a new position in shares of LogMeIn in the fourth quarter valued at approximately $65,000. Cullen Frost Bankers Inc. acquired a new position in shares of LogMeIn in the first quarter valued at approximately $91,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of LogMeIn in the fourth quarter valued at approximately $96,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on LOGM. Zacks Investment Research raised LogMeIn from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, May 20th. BidaskClub downgraded LogMeIn from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine downgraded LogMeIn from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. LogMeIn has an average rating of “Hold” and a consensus price target of $94.90.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $75.79, for a total value of $1,705,275.00. Following the sale, the director now owns 504,753 shares of the company’s stock, valued at approximately $38,255,229.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

NASDAQ:LOGM traded down $0.41 during trading hours on Wednesday, reaching $70.37. 3,260 shares of the company were exchanged, compared to its average volume of 734,889. The company has a market capitalization of $3.59 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.49 and a beta of 1.11. LogMeIn Inc has a 1-year low of $69.18 and a 1-year high of $114.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.53 and a quick ratio of 0.53.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.27. The business had revenue of $307.70 million for the quarter, compared to the consensus estimate of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. On average, sell-side analysts anticipate that LogMeIn Inc will post 3.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Wednesday, May 8th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 7th. LogMeIn’s dividend payout ratio is currently 28.57%.

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LogMeIn Company Profile

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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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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