Rk Capital Management buys $21,678,146 stake in LogMeIn Inc (LOGM)

LogMeIn Inc (LOGM) : Rk Capital Management scooped up 14,300 additional shares in LogMeIn Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 261,466 shares of LogMeIn Inc which is valued at $21,678,146.LogMeIn Inc makes up approximately 3.71% of Rk Capital Management’s portfolio.

Other Hedge Funds, Including , Transamerica Financial Advisors sold out all of its stake in LOGM during the most recent quarter. The investment firm sold 200 shares of LOGM which is valued $16,582.New York State Common Retirement Fund boosted its stake in LOGM in the latest quarter, The investment management firm added 6,553 additional shares and now holds a total of 42,513 shares of LogMeIn Inc which is valued at $3,524,753.Los Angeles Capital Management Equity Research Inc reduced its stake in LOGM by selling 2,530 shares or 14.43% in the most recent quarter. The Hedge Fund company now holds 15,000 shares of LOGM which is valued at $1,262,400. LogMeIn Inc makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’s portfolio. Redwood Investments added LOGM to its portfolio by purchasing 48,813 company shares during the most recent quarter which is valued at $4,081,743. LogMeIn Inc makes up approx 0.36% of Redwood Investments’s portfolio.

LogMeIn Inc opened for trading at $82.52 and hit $83.06 on the upside on Monday, eventually ending the session at $83, with a gain of 0.65% or 0.54 points. The heightened volatility saw the trading volume jump to 97,953 shares. Company has a market cap of $2,100 M.

On the company’s financial health, LogMeIn Inc reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $79.70 million for the quarter, compared to analysts expectations of $77.76 million. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on LogMeIn Inc. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Underweight”, Firm has raised the Price Target to $ 82 from a previous price target of $57 .Company shares were Reiterated by Needham on Jul 27, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 98 from a previous price target of $81 .LogMeIn Inc was Upgraded by JP Morgan to ” Overweight” on Jul 27, 2016.

LogMeIn Inc. provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things all of which are accessible with an Internet connection. The Company’s services are delivered via the cloud as hosted services. The Company offers both free and fee based or premium services. The Company’s core cloud-based services are categorized into four business lines: Collaboration Service and Support Connected Products and Additional Service Offerings. Its collaboration business consists of services for users to interact with and access the computers devices data and people that make up their digital world. join.me join.me pro and join.me enterprise are its free and premium browser-based online meeting and screen sharing services that give users the ability to host an online meeting with other people.

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