First Mercantile Trust Co Lowers stake in LogMeIn Inc (LOGM)

LogMeIn Inc (LOGM) : First Mercantile Trust Co reduced its stake in LogMeIn Inc by 12.7% during the most recent quarter end. The investment management company now holds a total of 4,627 shares of LogMeIn Inc which is valued at $432,162 after selling 673 shares in LogMeIn Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.LogMeIn Inc makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in LOGM by selling 3,942 shares or 50.47% in the most recent quarter. The Hedge Fund company now holds 3,869 shares of LOGM which is valued at $361,442.

LogMeIn Inc closed down -0.08 points or -0.09% at $93.4 with 1,76,225 shares getting traded on Friday. Post opening the session at $93.79, the shares hit an intraday low of $92.44 and an intraday high of $93.87 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, LogMeIn Inc reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $79.70 million for the quarter, compared to analysts expectations of $77.76 million. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on LogMeIn Inc. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Underweight”, Firm has raised the Price Target to $ 82 from a previous price target of $57 .Company shares were Reiterated by Needham on Jul 27, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 98 from a previous price target of $81 .LogMeIn Inc was Upgraded by JP Morgan to ” Overweight” on Jul 27, 2016.

LogMeIn Inc. provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things all of which are accessible with an Internet connection. The Company’s services are delivered via the cloud as hosted services. The Company offers both free and fee based or premium services. The Company’s core cloud-based services are categorized into four business lines: Collaboration Service and Support Connected Products and Additional Service Offerings. Its collaboration business consists of services for users to interact with and access the computers devices data and people that make up their digital world. pro and enterprise are its free and premium browser-based online meeting and screen sharing services that give users the ability to host an online meeting with other people.

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