Insider Selling: Reid Hoffman Sells 83,334 Shares of LinkedIn Corp. Stock (LNKD)
LinkedIn Corp. (NASDAQ:LNKD) Director Reid Hoffman sold 83,334 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $246.74, for a total value of $20,561,831.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on LNKD. Analysts at TheStreet reiterated a “sell” rating on shares of LinkedIn Corp. (NASDAQ:LNKD) in a research note to investors on Tuesday, September 10th. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of LinkedIn Corp. (NASDAQ:LNKD) in a research note to investors on Wednesday, September 4th. They now have a $250.00 price target on the stock. Finally, analysts at Needham & Company reiterated a “positive” rating on shares of LinkedIn Corp. (NASDAQ:LNKD) in a research note to investors on Wednesday, August 28th. They now have a $280.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $224.17.
LinkedIn Corp. (NASDAQ:LNKD) traded up 0.76% during mid-day trading on Wednesday, hitting $249.58. 1,291,414 shares of the company’s stock traded hands. LinkedIn Corp. has a 1-year low of $94.75 and a 1-year high of $257.56. The stock’s 50-day moving average is $236.9 and its 200-day moving average is $194.8. The company has a market cap of $27.978 billion and a P/E ratio of 941.79.
LinkedIn Corp. (NASDAQ:LNKD) last released its earnings data on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.07. The company had revenue of $363.70 million for the quarter, compared to the consensus estimate of $354.01 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 59.4% on a year-over-year basis. Analysts expect that LinkedIn Corp. will post $1.54 EPS for the current fiscal year.
LinkedIn Corporation (NASDAQ:LNKD) is a professional network on the Internet with more than 90 million members in over 200 countries and territories.
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