Envestnet Asset Management Inc. Sells 14,140 Shares of Logitech International S.A. (NASDAQ:LOGI)

Envestnet Asset Management Inc. lessened its stake in Logitech International S.A. (NASDAQ:LOGI) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,745 shares of the technology company’s stock after selling 14,140 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Logitech International worth $8,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after acquiring an additional 1,967,133 shares during the period. Norges Bank bought a new position in Logitech International in the 4th quarter worth approximately $156,888,000. Assenagon Asset Management S.A. grew its stake in Logitech International by 2,315.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after buying an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after acquiring an additional 1,240,478 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after acquiring an additional 655,025 shares during the period. 45.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LOGI shares. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays boosted their price target on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $125.00 in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.57.

Logitech International Stock Performance

Shares of LOGI opened at $71.63 on Friday. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.61 and a beta of 0.97. The firm has a 50 day moving average price of $88.64 and a 200-day moving average price of $86.55.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, equities research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.