Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock valued at $402,802,000 after buying an additional 1,240,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Logitech International by 6.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company's stock valued at $215,127,000 after buying an additional 146,338 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock valued at $188,254,000 after buying an additional 266,167 shares in the last quarter. Finally, Norges Bank purchased a new position in Logitech International in the 4th quarter valued at approximately $156,888,000. Institutional investors own 45.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LOGI. Citigroup reduced their price objective on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley raised shares of Logitech International from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and raised their price target for the company from $100.00 to $125.00 in a report on Friday, March 7th. Finally, Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Logitech International currently has an average rating of "Hold" and an average target price of $90.57.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the business's stock in a transaction 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 sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Logitech International Stock Up 2.0 %

NASDAQ LOGI traded up $1.51 during trading on Thursday, hitting $76.46. 151,919 shares of the stock traded hands, compared to its average volume of 597,393. The company has a market capitalization of $12.09 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The firm has a 50-day simple moving average of $86.83 and a 200-day simple moving average of $86.28.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping 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, research analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Logitech International Company 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.