Marcus Capital LLC boosted its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 20,450 shares of the company’s stock after buying an additional 50 shares during the period. LogMein accounts for 1.8% of Marcus Capital LLC’s investment portfolio, making the stock its 28th largest position. Marcus Capital LLC’s holdings in LogMein were worth $1,848,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in shares of LogMein during the second quarter valued at approximately $208,000. Profund Advisors LLC purchased a new stake in shares of LogMein during the second quarter valued at approximately $211,000. Teacher Retirement System of Texas raised its stake in shares of LogMein by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,509 shares of the company’s stock valued at $223,000 after buying an additional 425 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in shares of LogMein by 75.6% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,600 shares of the company’s stock valued at $228,000 after buying an additional 1,550 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of LogMein during the second quarter valued at approximately $231,000.
Shares of LogMein, Inc. (NASDAQ:LOGM) opened at 101.80 on Friday. LogMein, Inc. has a 12 month low of $35.00 and a 12 month high of $110.10. The stock has a market cap of $2.59 billion, a P/E ratio of 378.44 and a beta of 1.24. The company has a 50 day moving average of $101.31 and a 200 day moving average of $93.00.
The company also recently declared a special dividend, which was paid on Tuesday, January 31st. Investors of record on Monday, January 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 11th.
Several equities research analysts have commented on LOGM shares. Piper Jaffray Companies restated a “buy” rating and issued a $120.00 price target on shares of LogMein in a research note on Tuesday, November 22nd. TheStreet cut shares of LogMein from a “buy” rating to a “hold” rating in a report on Tuesday, December 27th. Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 29th. Robert W. Baird assumed coverage on shares of LogMein in a report on Thursday, December 8th. They issued a “neutral” rating and a $108.00 price objective for the company. Finally, Royal Bank Of Canada decreased their price objective on shares of LogMein from $125.00 to $70.00 and set an “outperform” rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. LogMein currently has an average rating of “Buy” and an average target price of $93.89.
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
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