Logitech International (NASDAQ:LOGI) Shares Gap Down to $79.44

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $79.44, but opened at $75.71. Logitech International shares last traded at $77.70, with a volume of 613,289 shares.

Analyst Ratings Changes

Several equities analysts recently commented on LOGI shares. Barclays raised their target price on Logitech International from $96.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th. Wedbush restated a "neutral" rating and issued a $92.00 price target on shares of Logitech International in a research report on Tuesday. StockNews.com downgraded Logitech International from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 14th. Berenberg Bank started coverage on Logitech International in a report on Thursday, March 14th. They set a "buy" rating and a $111.00 price target for the company. Finally, Citigroup increased their target price on Logitech International from $98.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $92.43.

Logitech International Trading Down 1.3 %

The company has a market cap of $12.40 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. The firm's fifty day moving average price is $87.01 and its 200-day moving average price is $86.49.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 650 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Logitech International news, COO Prakash Arunkundrum sold 699 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the sale, the chief operating officer now owns 67,848 shares of the company's stock, valued at approximately $6,106,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Harnett sold 650 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the transaction, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $2,207,555 over the last ninety days. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LOGI. Naples Global Advisors LLC grew its position in shares of Logitech International by 2.2% in the first quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company's stock valued at $1,185,000 after purchasing an additional 291 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Logitech International by 327.1% in the first quarter. Commonwealth Equity Services LLC now owns 34,764 shares of the technology company's stock valued at $3,107,000 after buying an additional 26,624 shares during the period. Assenagon Asset Management S.A. grew its position in Logitech International by 1,932.5% during the first quarter. Assenagon Asset Management S.A. now owns 480,655 shares of the technology company's stock worth $43,098,000 after buying an additional 457,006 shares in the last quarter. Global Retirement Partners LLC increased its stake in Logitech International by 764.4% during the 1st quarter. Global Retirement Partners LLC now owns 389 shares of the technology company's stock worth $35,000 after acquiring an additional 344 shares during the period. Finally, Raymond James & Associates raised its holdings in Logitech International by 2.5% in the 1st quarter. Raymond James & Associates now owns 62,414 shares of the technology company's stock valued at $5,578,000 after acquiring an additional 1,512 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.