Does This Provide a Reason to Sell LogMeIn, Inc. (LOGM)? The Stock Has Formed Bearish Wedge Down Chart Pattern

June 13, 2018 - By James Macaulay

LogMeIn, Inc. (NASDAQ:LOGM) Logo

Investors sentiment decreased to 1.01 in Q1 2018. Its down 0.06, from 1.07 in 2017Q4. It turned negative, as 36 investors sold LogMeIn, Inc. shares while 116 reduced holdings. 50 funds opened positions while 104 raised stakes. 51.10 million shares or 0.04% less from 51.12 million shares in 2017Q4 were reported.
2,234 are held by First Republic Inv Mgmt Inc. Adell Harriman & Carpenter holds 7,505 shares or 0% of its portfolio. Panagora Asset Mngmt Inc invested in 128,907 shares or 0.06% of the stock. Envestnet Asset Mgmt Inc reported 0% of its portfolio in LogMeIn, Inc. (NASDAQ:LOGM). Boston Advsrs Lc holds 15,323 shares or 0.05% of its portfolio. Oppenheimer Asset Mgmt Inc invested in 9,074 shares. Employees Retirement Association Of Colorado holds 10,291 shares or 0.01% of its portfolio. Amer Research And Mngmt invested in 0% or 102 shares. Raymond James & Assocs has invested 0.02% in LogMeIn, Inc. (NASDAQ:LOGM). Advantus Management reported 6,488 shares. Farallon Mngmt Llc accumulated 1.75M shares. Point72 Asset Mngmt Lp, a Connecticut-based fund reported 7,300 shares. Ftb reported 528 shares. Art Ltd Liability Corp owns 0.02% invested in LogMeIn, Inc. (NASDAQ:LOGM) for 3,277 shares. Prudential Incorporated has 158,280 shares for 0.03% of their portfolio.

Since May 1, 2018, it had 0 insider buys, and 19 selling transactions for $16.14 million activity. Shares for $2.17 million were sold by Simon Michael K. Ford W. Sean sold $163,210 worth of stock or 1,506 shares. $661,473 worth of stock was sold by Lok James on Monday, May 7. The insider Battles Christopher sold 1,772 shares worth $205,911. 9,307 shares were sold by Donahue Michael J, worth $1.01M on Friday, June 1. The insider Benson Steven J. sold 2,144 shares worth $232,375.

The stock of LogMeIn, Inc. (LOGM) formed a down wedge with $98.76 target or 9.00 % below today’s $108.53 share price. The 7 months wedge indicates high risk for the $5.67 billion company. If the $98.76 price target is reached, the company will be worth $509.94 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.35% or $0.38 during the last trading session, reaching $108.53. About 31,843 shares traded. LogMeIn, Inc. (NASDAQ:LOGM) has declined 0.64% since June 13, 2017 and is downtrending. It has underperformed by 13.21% the S&P500.

Analysts await LogMeIn, Inc. (NASDAQ:LOGM) to report earnings on July, 26. They expect $0.98 EPS, up 22.50 % or $0.18 from last year’s $0.8 per share. LOGM’s profit will be $51.16M for 27.69 P/E if the $0.98 EPS becomes a reality. After $0.97 actual EPS reported by LogMeIn, Inc. for the previous quarter, Wall Street now forecasts 1.03 % EPS growth.

LogMeIn, Inc. (NASDAQ:LOGM) Ratings Coverage

Among 8 analysts covering LogMeIn (NASDAQ:LOGM), 8 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. LogMeIn had 10 analyst reports since December 19, 2017 according to SRatingsIntel. The rating was maintained by Needham with “Buy” on Friday, February 16. As per Friday, April 27, the company rating was maintained by Robert W. Baird. Cowen & Co maintained it with “Buy” rating and $145.0 target in Friday, February 16 report. Barclays Capital maintained LogMeIn, Inc. (NASDAQ:LOGM) on Friday, April 27 with “Overweight” rating. Needham maintained the shares of LOGM in report on Wednesday, December 20 with “Buy” rating. Robert W. Baird maintained the stock with “Buy” rating in Wednesday, December 20 report. The firm has “Buy” rating given on Friday, February 16 by RBC Capital Markets.

More news for LogMeIn, Inc. (NASDAQ:LOGM) were recently published by: Seekingalpha.com, which released: “LogMeIn: This Software Stock Is Worth A Shot At The Current Price Levels” on June 01, 2018. Globenewswire.com‘s article titled: “New LogMeIn Report Reveals the Harsh Realities of Endpoint Management” and published on June 05, 2018 is yet another important article.

LogMeIn, Inc. provides cloud-based services for individuals and businesses to securely connect to their workplace, colleagues, and customers. The company has market cap of $5.67 billion. The firm offers GoToMeeting, a secure product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, a secure online training product for interactive training sessions; GoToWebinar, a do-it-yourself Webinar product for organizations to enhance market reach; join.me, join.me pro, and join.me enterprise that are browser online meeting and screen sharing services; OpenVoice, a reservation-less audio conferencing service; Grasshopper, a well-known provider of cloud telephony solutions; and BoldChat, a Web live chat service. It has a 39.55 P/E ratio. It also provides GoToAssist, GoToAssist Corporate, and GoToAssist Seeit, which offer cloud IT support solutions to deliver uptime for people and their computers, mobile devices, and apps; LogMeIn Rescue, Rescue Lens, and LogMeIn Rescue+Mobile, which are Web remote support and customer care services offering remote support; and Xively, an IoT cloud platform and connected product management solution.

LogMeIn, Inc. (NASDAQ:LOGM) Institutional Positions Chart

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