Today it was reported that a Director at LogMeIn (NASDAQ: LOGM), Michael Christenson, exercised options to buy 90,000 LOGM shares at $27.60 a share, for a total transaction value of $2.48M.
Following Michael Christenson’s last LOGM Buy transaction on February 22, 2011, the stock climbed by 47.5%.
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Based on LogMeIn’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $306 million and quarterly net profit of $6.55 million. In comparison, last year the company earned revenue of $257 million and had a net profit of $14.85 million. LOGM’s market cap is $4.33B and the company has a P/E ratio of 31.92. Currently, LogMeIn has an average volume of 574.9K.
Based on 10 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $105.89, reflecting a 27.0% upside. Seven different firms, including Piper Jaffray and RBC Capital, currently also have a Buy rating on the stock. Starting in August 2018, LOGM received 4 Buy ratings in a row.
Michael Christenson’s trades have generated a -5.3% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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LogMeIn, Inc. engages in the development and market of remote access, remote support and collaboration solutions that provide instant, secure connections between internet enabled devices. It operates through the following geographical segments: United States; United Kingdom; and International and All Other.
