Trade Report: The Prudential Financial Inc. Sold shares of LogMein Inc. (LOGM)

The Prudential Financial Inc. Sold shares of LogMein Inc. (LOGM)

Prudential Financial Inc. reduced its stake in shares of LogMein Inc. (NASDAQ:LOGM) by 21.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,413 shares of the company’s stock after selling 44,540 shares during the period. Prudential Financial Inc. owned approximately 0.63% of LogMein worth $10,048,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of LogMein by 43.0% in the first quarter. Renaissance Technologies LLC now owns 901,000 shares of the company’s stock valued at $45,464,000 after buying an additional 270,800 shares during the period. Bank of Montreal Can purchased a new stake in shares of LogMein during the second quarter valued at approximately $15,298,000. BlackRock Inc. increased its stake in shares of LogMein by 1.1% in the first quarter. BlackRock Inc. now owns 17,141 shares of the company’s stock valued at $865,000 after buying an additional 194 shares during the period. Aperio Group LLC increased its stake in shares of LogMein by 35.6% in the first quarter. Aperio Group LLC now owns 4,968 shares of the company’s stock valued at $251,000 after buying an additional 1,305 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of LogMein during the second quarter valued at approximately $2,819,000.

Shares of LogMein Inc. (NASDAQ:LOGM) traded down 0.112% on Wednesday, hitting $93.315. 10,888 shares of the stock traded hands. LogMein Inc. has a 52 week low of $35.00 and a 52 week high of $95.99. The firm has a market capitalization of $2.36 billion, a PE ratio of 183.330 and a beta of 1.37. The firm’s 50 day moving average is $87.28 and its 200 day moving average is $68.20.

LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. LogMein had a net margin of 4.29% and a return on equity of 12.99%. The company earned $83.30 million during the quarter, compared to analysts’ expectations of $81.80 million. During the same quarter in the previous year, the company earned $0.35 EPS. LogMein’s revenue was up 28.4% on a year-over-year basis. On average, analysts expect that LogMein Inc. will post $1.93 EPS for the current fiscal year.

Several equities research analysts recently commented on LOGM shares. Barclays PLC upgraded shares of LogMein from an “underweight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $105.00 in a research report on Monday. Cowen and Company downgraded shares of LogMein from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Tuesday, July 5th. TheStreet upgraded shares of LogMein from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Piper Jaffray Cos. reiterated an “overweight” rating on shares of LogMein in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. upgraded shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 target price for the company in a research report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. LogMein has a consensus rating of “Buy” and a consensus price target of $80.00.

In related news, Director Steven G. Chambers sold 4,540 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $84.42, for a total transaction of $383,266.80. Following the completion of the transaction, the director now owns 1,850 shares in the company, valued at $156,177. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Donahue sold 4,137 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $80.13, for a total transaction of $331,497.81. Following the transaction, the senior vice president now owns 8,137 shares of the company’s stock, valued at approximately $652,017.81. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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