Insider Selling: Logitech International (NASDAQ:LOGI) Insider Sells $1,648,457.75 in Stock

Logitech International S.A. (NASDAQ:LOGI) insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the sale, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Logitech International Trading Down 2.3%

NASDAQ:LOGI traded down $2.34 during trading hours on Monday, reaching $100.36. 583,181 shares of the company were exchanged, compared to its average volume of 1,118,164. The stock’s 50-day moving average is $101.59 and its 200-day moving average is $100.64. The firm has a market cap of $14.71 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 3.79 and a beta of 1.18. Logitech International S.A. has a twelve month low of $83.32 and a twelve month high of $129.66.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.59. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. As a group, research analysts anticipate that Logitech International S.A. will post 5.18 EPS for the current year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be paid a $1.36 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a yield of 126.0%.

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of research analyst reports. Wedbush reduced their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price target on Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Barclays dropped their price target on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $105.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Logitech International by 16.5% in the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after purchasing an additional 129,967 shares in the last quarter. Entropy Technologies LP lifted its position in Logitech International by 647.0% during the first quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock worth $1,724,000 after buying an additional 16,388 shares in the last quarter. Amundi boosted its stake in Logitech International by 51.2% during the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after buying an additional 563,564 shares during the last quarter. Groupe la Francaise acquired a new position in Logitech International during the first quarter worth $4,668,000. Finally, Royal Bank of Canada grew its holdings in Logitech International by 75.5% in the 1st quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock valued at $36,115,000 after buying an additional 170,485 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.