's Cadian Capital has slightly increased its stake in LogMeIn Inc
), 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.
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.
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
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.
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