LinkedIn Corp (LNKD) Shares Sold by Shell Asset Management Co.
Shell Asset Management Co. cut its position in shares of LinkedIn Corp (NYSE:LNKD) by 68.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,926 shares of the social networking company’s stock after selling 13,127 shares during the period. Shell Asset Management Co.’s holdings in LinkedIn Corp were worth $1,334,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eagle Asset Management boosted its position in LinkedIn Corp by 111.9% in the third quarter. Eagle Asset Management now owns 81,044 shares of the social networking company’s stock worth $15,408,000 after buying an additional 42,798 shares in the last quarter. Hollencrest Securities boosted its position in LinkedIn Corp by 3.9% in the fourth quarter. Hollencrest Securities now owns 2,650 shares of the social networking company’s stock worth $597,000 after buying an additional 100 shares in the last quarter. Wunderlich Securities boosted its position in LinkedIn Corp by 203.8% in the fourth quarter. Wunderlich Securities now owns 3,235 shares of the social networking company’s stock worth $728,000 after buying an additional 2,170 shares in the last quarter. Reynolds Capital Management acquired a new position in LinkedIn Corp during the fourth quarter worth about $293,000. Finally, Marcus Capital acquired a new position in LinkedIn Corp during the fourth quarter worth about $3,294,000.
LinkedIn Corp (NYSE:LNKD) traded up 0.75% during trading on Tuesday, reaching $109.94. The company had a trading volume of 2,043,494 shares. The firm’s 50-day moving average price is $113.08 and its 200 day moving average price is $190.26. LinkedIn Corp has a one year low of $98.25 and a one year high of $266.53. The firm’s market capitalization is $14.52 billion.
LinkedIn Corp (NYSE:LNKD) last issued its earnings results on Thursday, February 4th. The social networking company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.78 by $0.16. During the same quarter in the prior year, the business posted $0.61 earnings per share. The business had revenue of $862 million for the quarter, compared to analysts’ expectations of $857.26 million. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. Equities analysts forecast that LinkedIn Corp will post $3.20 earnings per share for the current fiscal year.
LNKD has been the subject of a number of research analyst reports. Vetr raised LinkedIn Corp from a “sell” rating to a “hold” rating and set a $243.13 price target for the company in a report on Monday, November 30th. Nomura began coverage on LinkedIn Corp in a report on Friday, December 4th. They set a “buy” rating and a $290.00 price objective for the company. Barclays reissued an “overweight” rating on shares of LinkedIn Corp in a report on Sunday, December 13th. Sterne Agee CRT raised LinkedIn Corp from a “neutral” rating to a “buy” rating in a report on Sunday, December 13th. Finally, Evercore ISI boosted their price objective on LinkedIn Corp from $235.00 to $245.00 and gave the stock a “hold” rating in a report on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and twenty-four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $196.72.
In related news, CAO Susan J.S. Taylor sold 572 shares of the firm’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $114.19, for a total value of $65,316.68. Following the transaction, the chief accounting officer now directly owns 7,017 shares of the company’s stock, valued at approximately $801,271.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Steven J. Sordello sold 1,405 shares of the firm’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $106.00, for a total value of $148,930.00. Following the completion of the transaction, the chief financial officer now directly owns 32,318 shares in the company, valued at $3,425,708. The disclosure for this sale can be found here.
LinkedIn Corporation (NYSE:LNKD) is a professional network on the Internet. The Company’s three product lines include Talent Solutions, Marketing Solutions and Premium Subscriptions. All three product lines are sold through two channels, an offline field sales organization, which engages with both large and small enterprise customers, as well as an online, self-serve channel, which includes enterprise customers and individual members purchasing subscriptions.
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