RS Investment Management (Trades, Portfolio) sold out of LogMeIn Inc. (LOGM, Financial) on July 31. The company sold its 2,926,346 shares for $85.91 per share. The divestiture had an impact of -1.46% on its portfolio.
LogMeIn provides cloud-based services allowing users to securely connect to their workplaces, customers and colleagues. It was originally founded in 2003 as Bermuda LLC but changed its name to 3am Labs Ltd. in 2004 and, finally, LogMeIn in 2006. The company is headquartered in Boston.
The company has a market cap of $2.11 billion with an enterprise value of $1.98 billion. It has a price-earnings (P/E) ratio of 160.2, with a forward P/E of 43.8. Its price-book (P/B) ratio is 10.3, and its price-sales (P/S) ratio is 6.9.
GuruFocus ranked LogMeIn’s financial strength 7 of 10 and its profitability and growth 7 of 10. The company has an operating margin of 5.55% and a net-margin of 4.3%. It has a Piotroski F-Score of 5, indicating a stable financial condition. Similarly, its Altman Z-Score is 5.72, placing it well into the safe zone.
RS previously sold out of LogMeIn in the third quarter of 2011 but gained a new holding in the third quarter of 2013 at an average price of $29.55 per share.
RS Investment was founded in 1986 and is a Victory Capital investment franchise based in San Francisco. Its investment strategy is based on critical thinking, thorough research and careful security selection. It offers growth, value and developed market strategies to its clients. The company owns stock in 377 companies and is worth $10.1 million. RS’s quarter-over-quarter turnover rate is 19%.
Gurus who are currently invested in LogMeIn include Jim Simons (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio).
Disclosure: I do not own stock in any company mentioned in the article.
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