A Director at LogMeIn (NASDAQ: LOGM) is Buying Shares

By Carrie Williams

Today, a Director at LogMeIn (NASDAQ: LOGM), Steven Benson, bought shares of LOGM for $39.36K.

Following this transaction Steven Benson’s holding in the company was increased by 100%. Following Steven Benson’s last LOGM Buy transaction on May 24, 2016, the stock climbed by 38.8%.

Based on LogMeIn’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $87.97 million and quarterly net profit of $1.86 million. In comparison, last year the company earned revenue of $76.08 million and had a net profit of $6.24 million. The company has a one year high of $110 and a one year low of $46.59. LOGM’s market cap is $2.51B and the company has a P/E ratio of 982.50.

13 different firms, including Barclays and Merrill Lynch, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $844.9K worth of LOGM shares and purchased $39.36K worth of LOGM shares. The insider sentiment on LogMeIn has been negative according to 43 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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LogMeIn, Inc. develops and markets a suite of remote access, remote support and collaboration solutions that provide instant, secure connections between internet enabled devices. It provides essential cloud based services for remote access, device management, data management, customer care and collaboration. The company’s product line includes Gravity, LogMeIn Free, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue Mobile, LogMeIn Backup, join.me, Pachube and RemotelyAnywhere. LogMeIn was founded by Michael K. Simon and Marton B. Anka in February 2003 and is headquartered in Woburn, MA.