Nichols Asset Management Lowers stake in LogMeIn Inc (LOGM)

LogMeIn Inc (LOGM) : Nichols Asset Management reduced its stake in LogMeIn Inc by 0.8% during the most recent quarter end. The investment management company now holds a total of 129,760 shares of LogMeIn Inc which is valued at $6,718,973 after selling 1,041 shares in LogMeIn Inc , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.LogMeIn Inc makes up approximately 1.45% of Nichols Asset Management’s portfolio.

LogMeIn Inc closed down -0.18 points or -0.34% at $52.68 with 2,91,085 shares getting traded on Wednesday. Post opening the session at $52.54, the shares hit an intraday low of $52.32 and an intraday high of $53 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Fisher Asset Management boosted its stake in LOGM in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 50,400 shares of LogMeIn Inc which is valued at $2,609,712. LogMeIn Inc makes up approx 0.01% of Fisher Asset Management’s portfolio.Gemmer Asset Management boosted its stake in LOGM in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 52 shares of LogMeIn Inc which is valued at $2,572.Acadian Asset Management reduced its stake in LOGM by selling 390,499 shares or 62.25% in the most recent quarter. The Hedge Fund company now holds 236,763 shares of LOGM which is valued at $11,712,666. LogMeIn Inc makes up approx 0.06% of Acadian Asset Management’s portfolio. British Columbia Investment Management Corp sold out all of its stake in LOGM during the most recent quarter. The investment firm sold 52,804 shares of LOGM which is valued $2,591,620.

On the company’s financial health, LogMeIn Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.47. The company had revenue of $76.08 million for the quarter, compared to analysts expectations of $74.45 million. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on LogMeIn Inc. Shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 65 from a previous price target of $75 .Shares were Reiterated by Needham on Feb 12, 2016 to “Strong Buy” and Lowered the Price Target to $ 57 from a previous price target of $84 .Shares were Reiterated by Barclays on Feb 10, 2016 to “Underweight” and Lowered the Price Target to $ 45 from a previous price target of $67 .

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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