Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Cadian Capital Picks Up Stake in LogMeIn Inc (LOGM)

Eric Bannasch‘s Cadian Capital has slightly increased its stake in LogMeIn Inc (NASDAQ:LOGM), according to a newly amended filing with the SEC. The fund disclosed holding 2.38 million shares, versus 2.34 million held earlier. The stake held by Cadian is passive by nature and amasses 9.82% of the company’s stock.

LogMeIn Inc (NASDAQ:LOGM)

Earlier, in November, Cadian Capital lowered its position in LogMeIn from 2.6 million shares held at the end of September.

With $3.41 billion in equity portfolio, Cadian Capital, managed by Eric Bannasch focuses on Media, Technology, Telecommunications, Industrial Goods and Services sectors primarily. The fund had invested $338.34 million in 9.10 million shares of Altera Corp (NASDAQ:ALTR) at the end of the third quarter of 2013. This investment formed almost 10% of the fund’s equity portfolio value. The fund also holds 26.97 million shares, worth $178.54 million of P M C Sierra Inc (NASDAQ:PMCS) and 6.98 million shares, worth $178.33 million, of E M C Corp (NYSE:EMC).

Recently Cadian Capital increased its exposure in COMSCORE, Inc. (NASDAQ:SCOR) to 3.57 million shares, representing 10% of the common stock. Cadian Capital had also increased its stake in Green Plains Renewable Energy Inc. (NASDAQ:GPRE) from 1.50 million shares to 3.80 million shares in November. This holding amasses 12.55% of the company’s common stock.

LogMeIn Inc (NASDAQ:LOGM) provides cloud-based collaboration, IT management and customer service products aimed at providing multi-device accessibility very much essential in today’s evolving world. These products can be downloaded as free apps or can operate on more sophisticated SaaS platforms. Such a platform allows people to operate from virtually anywhere through their laptops, smartphones or tablets. The company recently announced a dedicated social channel for the investment community. These social channels can help in establishing two-way communications with company’s investors and analysts.

Apart from Cadian Capital, other hedge funds holding substantial holdings in LogMeIn include Sac Capital Advisors, managed by Steven Cohen, with 1.60 million shares worth $49.78 million at the end of the third quarter. Ryan Frick And Oliver Evans managed Dorsal Capital Management also held approximately 475,000 shares worth $14.75 million among the hedge funds tracked by us. D. E. Shaw’s D E Shaw held approximately 267,000 shares worth $8.29 million in the company.

Disclosure: None

Recommended Reading:

Hedge Fund News: Martin Whitman, Michael Platt & Lansdowne Partners

Seth Klarman’s Baupost Group Initiates Stake in Kindred Biosciences Inc (KIN); Trims Holding in Enzon Pharmaceuticals Inc (ENZN)

Prescott Group Upped its Stake in Comstock Holding Companies (CHCI)

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!