Rs Investment Management Co Lowers stake in LogMeIn Inc (LOGM)

LogMeIn Inc (LOGM) : Rs Investment Management Co reduced its stake in LogMeIn Inc by 4.07% during the most recent quarter end. The investment management company now holds a total of 2,926,346 shares of LogMeIn Inc which is valued at $170 Million after selling 124,230 shares in LogMeIn Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.LogMeIn Inc makes up approximately 1.69% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , Comerica Bank boosted its stake in LOGM in the latest quarter, The investment management firm added 179 additional shares and now holds a total of 25,786 shares of LogMeIn Inc which is valued at $1.5 Million. LogMeIn Inc makes up approx 0.01% of Comerica Bank’s portfolio. Schroder Investment Management Group added LOGM to its portfolio by purchasing 25,433 company shares during the most recent quarter which is valued at $1.5 Million.Blackrock Fund Advisors reduced its stake in LOGM by selling 25,453 shares or 1.62% in the most recent quarter. The Hedge Fund company now holds 1,548,282 shares of LOGM which is valued at $90 Million. LogMeIn Inc makes up approx 0.02% of Blackrock Fund Advisors’s portfolio. Oxford Asset Management sold out all of its stake in LOGM during the most recent quarter. The investment firm sold 8,727 shares of LOGM which is valued $507,039.

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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