The stock of LogMeIn Inc (NASDAQ:LOGM) reached all time high today, Nov, 14 and still has $139.51 target or 40.00% above today’s $99.65 share price. This indicates more upside for the $2.52 billion company. This technical setup was reported by Barchart.com. If the $139.51 PT is reached, the company will be worth $1.01 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 226,457 shares traded hands. LogMeIn Inc (NASDAQ:LOGM) has risen 113.81% since April 12, 2016 and is uptrending. It has outperformed by 108.82% the S&P500.
LogMeIn Inc (NASDAQ:LOGM) Ratings Coverage
Out of 9 analysts covering LogMeIn (NASDAQ:LOGM), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. LogMeIn has been the topic of 21 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Wednesday, July 27, the company rating was downgraded by Pacific Crest. As per Friday, July 24, the company rating was maintained by Needham. Needham maintained it with “Strong-Buy” rating and $84 target price in Thursday, September 3 report. Needham maintained LogMeIn Inc (NASDAQ:LOGM) rating on Friday, February 12. Needham has “Strong Buy” rating and $57 price target. TheStreet upgraded the shares of LOGM in a report on Tuesday, August 25 to “Hold” rating. The stock of LogMeIn Inc (NASDAQ:LOGM) has “Outperform” rating given on Friday, July 24 by RBC Capital Markets. JP Morgan upgraded the stock to “Overweight” rating in Wednesday, July 27 report. The firm has “Outperform” rating given on Friday, July 24 by Northland Capital. The stock has “Buy” rating given by Dougherty & Company on Friday, April 29. As per Friday, October 14, the company rating was maintained by Needham.
According to Zacks Investment Research, “LogMeIn Inc., with world headquarters located near Boston in Woburn, Massachusetts, is a leading provider of on-demand, remote-connectivity and support solutions to small businesses, IT service providers and consumers. The company also has its European headquarters in Amsterdam, the Netherlands, and a development center in Budapest, Hungary. LogMeIn’s software-as-a-service suite of solutions includes capabilities for on-demand customer support of PCs, smartphones and other devices, systems administration, remote access, remote control, file-sharing, virtual private networking, data back-up and online meeting. Its solutions, which are deployed on-demand and accessible through a Web browser, are secure, scalable and easy for its customers to try, purchase and use. The company’s vision is to improve mobility, business productivity and connectivity through its Connectivity as a ServiceSM solutions.”
Insitutional Activity: The institutional sentiment increased to 1.04 in Q2 2016. Its up 0.10, from 0.94 in 2016Q1. The ratio increased, as 28 funds sold all LogMeIn Inc shares owned while 63 reduced positions. 30 funds bought stakes while 65 increased positions. They now own 25.23 million shares or 2.78% less from 25.95 million shares in 2016Q1.
Alyeska Group L P has invested 0.6% of its portfolio in LogMeIn Inc (NASDAQ:LOGM). Macquarie Grp, a Australia-based fund reported 78,874 shares. Ameriprise Financial Incorporated, a Minnesota-based fund reported 235,334 shares. Rk Capital Mgmt Ltd Llc has 2.96% invested in the company for 261,466 shares. The New Jersey-based Kcg has invested 0% in LogMeIn Inc (NASDAQ:LOGM). Principal Fin Gp Inc owns 181,777 shares or 0.02% of their US portfolio. Blackrock Advsrs Ltd Llc accumulated 0.01% or 201,484 shares. Piermont Cap Management accumulated 19,808 shares or 0.33% of the stock. Manufacturers Life The last reported 70,025 shares in the company. Pdt, a New York-based fund reported 28,610 shares. Princeton Alpha Mngmt L P last reported 0.07% of its portfolio in the stock. Credit Suisse Ag owns 22,556 shares or 0% of their US portfolio. Blackrock Institutional Trust Na accumulated 820,391 shares or 0.01% of the stock. Trillium Asset Management Ltd Liability accumulated 0.13% or 31,439 shares. Numeric Ltd has 0% invested in the company for 8,500 shares.
Insider Transactions: Since May 21, 2016, the stock had 0 insider purchases, and 11 insider sales for $18.96 million net activity. $2.72 million worth of LogMeIn Inc (NASDAQ:LOGM) was sold by Simon Michael K. GILLIS EDWIN J sold $4.50M worth of stock. On Tuesday, August 16 Donahue Michael J sold $331,504 worth of the stock or 4,137 shares. D’Angelo Lawrence M. sold 11,891 shares worth $741,965. 500 shares with value of $41,600 were sold by MATZ MARILYN on Wednesday, August 10. Shares for $383,289 were sold by CHAMBERS STEVEN G.
More news for LogMeIn Inc (NASDAQ:LOGM) were recently published by: Fool.com, which released: “Here’s Why LogMeIn Inc Shares Rose 32% in July” on August 07, 2016. Fool.com‘s article titled: “Why LogMeIn, Inc. Shares Jumped Today” and published on July 27, 2016 is yet another important article.
LOGM Company Profile
LogMeIn, Inc., incorporated on August 3, 2004, provides a portfolio of cloud 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. The Company’s services are focused on markets, such as identity and access management, collaboration and the Internet of Things, and are delivered through the cloud as hosted services, commonly called software-as-a-service (SaaS). The Firm offers both free and fee based, or premium, services. The Company’s core cloud services are categorized into business lines, including Collaboration, Service and Support, Identity and Access Management, and Connected Products.
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