LinkedIn Corp. (LNKD) Short Interest Up 41.8% in September
LinkedIn Corp. (NYSE:LNKD) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,245,209 shares, a growth of 41.8% from the September 15th total of 1,583,830 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,986,259 shares, the short-interest ratio is presently 1.1 days.
Several equities research analysts have commented on the company. Pacific Crest reissued a “sector perform” rating on shares of LinkedIn Corp. in a report on Sunday, June 26th. Vetr downgraded LinkedIn Corp. from a “buy” rating to a “hold” rating and set a $189.85 target price on the stock. in a report on Thursday, June 30th. Cantor Fitzgerald reissued a “hold” rating on shares of LinkedIn Corp. in a report on Saturday, July 9th. Jefferies Group reissued a “hold” rating on shares of LinkedIn Corp. in a report on Monday, July 11th. Finally, Citigroup Inc. boosted their target price on LinkedIn Corp. from $140.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, July 18th. Three analysts have rated the stock with a sell rating, thirty-four have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $199.29.
Shares of LinkedIn Corp. (NYSE:LNKD) opened at 190.38 on Wednesday. The company’s 50 day moving average price is $192.00 and its 200-day moving average price is $167.73. The company’s market capitalization is $25.65 billion. LinkedIn Corp. has a 52 week low of $98.25 and a 52 week high of $258.39.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/linkedin-corp-lnkd-short-interest-up-41-8-in-september.html
LinkedIn Corp. (NYSE:LNKD) last released its quarterly earnings results on Thursday, August 4th. The social networking company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. LinkedIn Corp. had a positive return on equity of 0.47% and a negative net margin of 6.23%. The company had revenue of $933 million for the quarter, compared to analysts’ expectations of $898.30 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 31.0% compared to the same quarter last year. Analysts anticipate that LinkedIn Corp. will post $3.83 earnings per share for the current fiscal year.
In related news, SVP Michael John Callahan sold 564 shares of the company’s stock in a transaction 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 directly owns 55,108 shares of the company’s stock, valued at $10,616,556.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeff Weiner sold 6,834 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $190.45, for a total value of $1,301,535.30. Following the completion of the sale, the chief executive officer now directly owns 69,057 shares in the company, valued at $13,151,905.65. The disclosure for this sale can be found here. Insiders own 12.72% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Puplava Financial Services Inc. bought a new stake in LinkedIn Corp. during the third quarter worth $3,657,000. MAI Capital Management bought a new stake in LinkedIn Corp. during the third quarter worth $764,000. Rothschild Investment Corp IL bought a new stake in LinkedIn Corp. during the third quarter worth $382,000. National Pension Service raised its stake in LinkedIn Corp. by 8.5% in the third quarter. National Pension Service now owns 101,724 shares of the social networking company’s stock worth $19,441,000 after buying an additional 7,946 shares in the last quarter. Finally, Havens Advisors LLC raised its stake in LinkedIn Corp. by 87.5% in the third quarter. Havens Advisors LLC now owns 60,000 shares of the social networking company’s stock worth $11,467,000 after buying an additional 28,000 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for LinkedIn Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LinkedIn Corp. and related companies with MarketBeat.com's FREE daily email newsletter.