LogMeIn Sees Unusually Large Options Volume (NASDAQ:LOGM)

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LogMeIn Inc (NASDAQ:LOGM) was the recipient of some unusual options trading on Thursday. Stock traders purchased 1,072 call options on the company. This is an increase of approximately 983% compared to the average volume of 99 call options.

Several brokerages have recently weighed in on LOGM. BidaskClub lowered LogMeIn from a “sell” rating to a “strong sell” rating in a report on Friday, October 4th. ValuEngine raised LogMeIn from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stephens reaffirmed an “equal weight” rating and issued a $77.00 price target on shares of LogMeIn in a research note on Thursday, August 22nd. Robert W. Baird set a $85.00 price target on LogMeIn and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Berenberg Bank initiated coverage on LogMeIn in a research note on Thursday. They issued a “buy” rating and a $91.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. LogMeIn currently has a consensus rating of “Hold” and an average price target of $91.10.

Shares of LOGM stock traded up $1.39 on Friday, reaching $69.54. 325,817 shares of the stock were exchanged, compared to its average volume of 490,844. The stock has a market cap of $3.34 billion, a PE ratio of 15.28, a P/E/G ratio of 3.34 and a beta of 1.09. LogMeIn has a one year low of $65.04 and a one year high of $96.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a 50 day moving average price of $68.70 and a 200 day moving average price of $74.26.

LogMeIn (NASDAQ:LOGM) last released its earnings results on Thursday, July 25th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $313.10 million during the quarter, compared to the consensus estimate of $310.98 million. LogMeIn had a return on equity of 7.44% and a net margin of 1.82%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 earnings per share. On average, research analysts expect that LogMeIn will post 4.02 earnings per share for the current fiscal year.

In other news, Director Steven J. Benson sold 1,000 shares of LogMeIn stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $66.96, for a total transaction of $66,960.00. Following the sale, the director now owns 2,223 shares of the company’s stock, valued at approximately $148,852.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter John Sacripanti sold 7,124 shares of LogMeIn stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $70.00, for a total value of $498,680.00. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC acquired a new stake in shares of LogMeIn during the second quarter worth $33,000. Icon Wealth Partners LLC acquired a new stake in shares of LogMeIn during the first quarter worth $39,000. Cerebellum GP LLC grew its stake in shares of LogMeIn by 81.8% during the third quarter. Cerebellum GP LLC now owns 831 shares of the software maker’s stock worth $95,000 after purchasing an additional 374 shares during the period. CSat Investment Advisory L.P. acquired a new position in LogMeIn in the second quarter valued at about $100,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in LogMeIn by 146.8% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,458 shares of the software maker’s stock valued at $118,000 after acquiring an additional 1,462 shares during the period. 95.59% of the stock is owned by institutional investors and hedge funds.

LogMeIn Company Profile

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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