British Columbia Investment Management Corp Sells 13,289 Shares of LinkedIn Corp. (LNKD)
British Columbia Investment Management Corp cut its stake in LinkedIn Corp. (NYSE:LNKD) by 23.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 44,283 shares of the social networking company’s stock after selling 13,289 shares during the period. British Columbia Investment Management Corp’s holdings in LinkedIn Corp. were worth $8,463,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Barnett & Company Inc. boosted its stake in shares of LinkedIn Corp. by 65.2% in the second quarter. Barnett & Company Inc. now owns 570 shares of the social networking company’s stock valued at $108,000 after buying an additional 225 shares during the period. FineMark National Bank & Trust bought a new stake in shares of LinkedIn Corp. during the second quarter valued at approximately $118,000. Toronto Dominion Bank boosted its stake in shares of LinkedIn Corp. by 0.9% in the second quarter. Toronto Dominion Bank now owns 640 shares of the social networking company’s stock valued at $121,000 after buying an additional 6 shares during the period. Capital Analysts LLC boosted its position in shares of LinkedIn Corp. by 9.7% in the second quarter. Capital Analysts LLC now owns 655 shares of the social networking company’s stock worth $124,000 after buying an additional 58 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of LinkedIn Corp. by 5.8% in the second quarter. Checchi Capital Advisers LLC now owns 713 shares of the social networking company’s stock worth $135,000 after buying an additional 39 shares during the last quarter. Institutional investors own 63.98% of the company’s stock.
Shares of LinkedIn Corp. (NYSE:LNKD) traded down 0.01% during trading on Tuesday, reaching $195.10. The company’s stock had a trading volume of 296,573 shares. The company’s market cap is $26.44 billion. LinkedIn Corp. has a 52 week low of $98.25 and a 52 week high of $252.03. The stock’s 50 day moving average price is $190.96 and its 200 day moving average price is $182.63.
LinkedIn Corp. (NYSE:LNKD) last released its quarterly earnings data on Thursday, October 27th. The social networking company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.27. LinkedIn Corp. had a positive return on equity of 1.77% and a negative net margin of 4.56%. The business had revenue of $960 million for the quarter, compared to analysts’ expectations of $955.55 million. During the same quarter in the previous year, the business posted $0.78 EPS. LinkedIn Corp.’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts predict that LinkedIn Corp. will post $4.25 EPS for the current year.
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LNKD has been the subject of a number of recent research reports. Vetr downgraded shares of LinkedIn Corp. from a “buy” rating to a “hold” rating and set a $189.74 price target for the company. in a report on Monday, August 15th. Cantor Fitzgerald reiterated a “hold” rating and set a $220.00 price target on shares of LinkedIn Corp. in a report on Monday, October 31st. Zacks Investment Research downgraded shares of LinkedIn Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 5th. restated a “buy” rating on shares of LinkedIn Corp. in a report on Friday, September 23rd. Finally, RBC Capital Markets restated a “hold” rating and issued a $196.00 target price on shares of LinkedIn Corp. in a report on Friday, October 28th. Four analysts have rated the stock with a sell rating, thirty-three have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $187.30.
In other LinkedIn Corp. news, SVP Michael John Callahan sold 564 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $192.65, for a total value of $108,654.60. Following the sale, the senior vice president now owns 55,108 shares in the company, valued at approximately $10,616,556.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan J.S. Taylor sold 428 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $193.35, for a total value of $82,753.80. The disclosure for this sale can be found here. Insiders own 12.72% of the company’s stock.
LinkedIn Corp. Company Profile
LinkedIn Corporation (LinkedIn) is a professional network on the Internet with approximately 400 million members in over 200 countries and territories. The Company provides the majority of its products at no cost to its members. It offers approximately three product lines: Talent Solutions, which includes Hiring, and Learning and Development; Marketing Solutions and Premium Subscriptions.
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