Hedge Funds Are Selling LogMeIn Inc (LOGM)

Page 1 of 2

LogMeIn Inc (NASDAQ:LOGM) investors should be aware of a decrease in enthusiasm from smart money in recent months.

LogMeIn Inc (LOGM)In today’s marketplace, there are tons of methods market participants can use to track publicly traded companies. A duo of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite money managers can outpace the S&P 500 by a significant margin (see just how much).

Just as integral, optimistic insider trading activity is another way to parse down the world of equities. Just as you’d expect, there are plenty of motivations for a corporate insider to sell shares of his or her company, but only one, very simple reason why they would behave bullishly. Plenty of empirical studies have demonstrated the impressive potential of this strategy if shareholders understand where to look (learn more here).

With all of this in mind, it’s important to take a peek at the key action regarding LogMeIn Inc (NASDAQ:LOGM).

How have hedgies been trading LogMeIn Inc (NASDAQ:LOGM)?

At the end of the first quarter, a total of 12 of the hedge funds we track were long in this stock, a change of -8% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their holdings substantially.

According to our comprehensive database, Cadian Capital, managed by Eric Bannasch, holds the largest position in LogMeIn Inc (NASDAQ:LOGM). Cadian Capital has a $70.5 million position in the stock, comprising 2% of its 13F portfolio. Coming in second is SAC Capital Advisors, managed by Steven Cohen, which held a $32.4 million position; 0.2% of its 13F portfolio is allocated to the company. Other hedgies with similar optimism include Josh Resnick’s Jericho Capital Asset Management, D. E. Shaw’s D E Shaw and Ken Griffin’s Citadel Investment Group.

Seeing as LogMeIn Inc (NASDAQ:LOGM) has experienced declining sentiment from hedge fund managers, it’s easy to see that there was a specific group of fund managers that elected to cut their positions entirely heading into Q2. Intriguingly, George Soros’s Soros Fund Management dumped the biggest stake of the “upper crust” of funds we track, worth close to $5.3 million in stock., and Spencer M. Waxman of Shannon River Fund Management was right behind this move, as the fund cut about $2.1 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 1 funds heading into Q2.

What do corporate executives and insiders think about LogMeIn Inc (NASDAQ:LOGM)?

Insider buying is particularly usable when the company we’re looking at has seen transactions within the past 180 days. Over the latest six-month time period, LogMeIn Inc (NASDAQ:LOGM) has seen 2 unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to LogMeIn Inc (NASDAQ:LOGM). These stocks are NQ Mobile Inc (ADR) (NYSE:NQ), Incontact Inc (NASDAQ:SAAS), AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP), Responsys Inc (NASDAQ:MKTG), and E2open Inc (NASDAQ:EOPN). This group of stocks are in the application software industry and their market caps resemble LOGM’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

Subscribe

Enter your email:

Delivered by FeedBurner

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!