Potrero Capital Research buys $5.3 Million stake in LogMeIn Inc (LOGM)

LogMeIn Inc (LOGM) : Potrero Capital Research scooped up 35,835 additional shares in LogMeIn Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 91,335 shares of LogMeIn Inc which is valued at $5.3 Million.LogMeIn Inc makes up approximately 4.90% of Potrero Capital Research’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co reduced its stake in LOGM by selling 124,230 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 2,926,346 shares of LOGM which is valued at $170 Million. LogMeIn Inc makes up approx 1.69% of Rs Investment Management Co’s portfolio.Essex Investment Management Co reduced its stake in LOGM by selling 2,756 shares or 9.85% in the most recent quarter. The Hedge Fund company now holds 25,216 shares of LOGM which is valued at $1.5 Million. LogMeIn Inc makes up approx 0.25% of Essex Investment Management Co’s portfolio. Diam Ltd. sold out all of its stake in LOGM during the most recent quarter. The investment firm sold 21,616 shares of LOGM which is valued $1.3 Million.Renaissance Group reduced its stake in LOGM by selling 127 shares or 2.67% in the most recent quarter. The Hedge Fund company now holds 4,625 shares of LOGM which is valued at $269,591. LogMeIn Inc makes up approx 0.01% of Renaissance Group’s portfolio.

LogMeIn Inc opened for trading at $58.1 and hit $58.71 on the upside on Monday, eventually ending the session at $58.125, with a gain of 0.04% or 0.025 points. The heightened volatility saw the trading volume jump to 2,60,652 shares. Company has a market cap of $1,453 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 Dougherty & Company on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $56 .Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .Company shares were Reiterated by Barclays on Apr 29, 2016 to “Underweight”, Firm has raised the Price Target to $ 49 from a previous price target of $45 .

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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