Franklin Resources Inc. Sells 13,730 Shares of Logitech International S.A. (NASDAQ:LOGI)

Franklin Resources Inc. decreased its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,157 shares of the technology company's stock after selling 13,730 shares during the period. Franklin Resources Inc. owned approximately 0.23% of Logitech International worth $31,626,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company's stock worth $644,642,000 after acquiring an additional 457,630 shares in the last quarter. Barclays PLC boosted its stake in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock valued at $451,426,000 after buying an additional 1,967,133 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Logitech International by 3.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company's stock worth $219,611,000 after buying an additional 89,788 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Logitech International by 8.0% in the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company's stock worth $157,324,000 after buying an additional 120,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Logitech International by 1.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,097,951 shares of the technology company's stock valued at $98,348,000 after acquiring an additional 19,046 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Stock Down 0.7 %

Shares of LOGI traded down $0.60 during mid-day trading on Thursday, reaching $81.06. The company's stock had a trading volume of 465,099 shares, compared to its average volume of 490,025. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. The business has a fifty day moving average of $82.37 and a 200 day moving average of $87.95. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $102.59.

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht purchased 2,500 shares of the stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the acquisition, the director now directly owns 18,503 shares in the company, valued at approximately $1,500,963.36. The trade was a 15.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

LOGI has been the subject of several recent analyst reports. UBS Group raised shares of Logitech International from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. Wedbush reiterated a "neutral" rating and issued a $88.00 price target on shares of Logitech International in a research note on Wednesday, October 23rd. StockNews.com cut Logitech International from a "buy" rating to a "hold" rating in a research note on Tuesday. Bank of America lowered Logitech International from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $114.00 to $92.00 in a research report on Monday. Finally, Barclays dropped their target price on shares of Logitech International from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $92.88.

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.