Large Outflow of Money Witnessed in LogMein

LogMein (LOGM) : The total money flow in LogMein (LOGM) was negative ($2.64 million), showing the domination of sellers in the Friday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $5.99 million. Transactions on upticks were comparatively lower at $3.35 million. The uptick to downtick ratio was 0.56. The total block trades on downticks were valued at $0.64 million. The money flow during block trades was negative ($0.64 million) when the stock traded with a gain of $177 cent. LogMein (LOGM) was $64.21, an increase of 2.83% over the previous days close.


LogMein (LOGM) : The most positive equity analysts on LogMein (LOGM) expects the shares to touch $85, whereas, the least positive believes that the stock will trade at $57 in the short term. The company is covered by 8 Wall Street Brokerage Firms. The average price target for shares are $70.5 with an expected fluctuation of $10.62 from the mean.

LogMein (NASDAQ:LOGM): stock turned positive on Friday. Though the stock opened at $62.28, the bulls momentum made the stock top out at $64.67 level for the day. The stock recorded a low of $61.96 and closed the trading day at $64.47, in the green by 3.25%. The total traded volume for the day was 261,359. The stock had closed at $62.44 in the previous days trading.

In a related news, The Securities and Exchange Commission has divulged that Simon Michael K, director of Logmein, Inc., had unloaded 11,296 shares at an average price of $62.6 in a transaction dated on June 9, 2016. The total value of the transaction was worth $707,130.

LogMeIn, Inc. provides a portfolio of cloud-based service offerings. The Companys 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 Companys services are delivered via the cloud as hosted services. The Company offers both free and fee based, or premium, services. The Companys 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., pro and 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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