LinkedIn Corp. (LNKD) Short Interest Up 41.8% in September
LinkedIn Corp. (NYSE:LNKD) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 2,245,209 shares, an increase of 41.8% from the September 15th total of 1,583,830 shares. Based on an average daily trading volume, of 1,986,259 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.9% of the company’s stock are sold short.
LinkedIn Corp. (NYSE:LNKD) opened at 190.38 on Wednesday. The firm’s 50-day moving average price is $192.00 and its 200 day moving average price is $167.73. LinkedIn Corp. has a 52 week low of $98.25 and a 52 week high of $258.39. The company’s market capitalization is $25.65 billion.
LinkedIn Corp. (NYSE:LNKD) last posted its earnings results on Thursday, August 4th. The social networking company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $933 million for the quarter, compared to analysts’ expectations of $898.30 million. During the same period in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. Equities research analysts expect that LinkedIn Corp. will post $3.83 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of LinkedIn Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 5th. Credit Agricole SA reiterated a “buy” rating on shares of LinkedIn Corp. in a report on Friday, September 23rd. Jefferies Group reiterated a “hold” rating and issued a $196.00 price objective on shares of LinkedIn Corp. in a report on Tuesday, September 6th. Vetr downgraded shares of LinkedIn Corp. from a “buy” rating to a “hold” rating and set a $189.74 price objective on the stock. in a report on Monday, August 15th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $196.00 price objective on shares of LinkedIn Corp. in a report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, thirty-four have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $199.29.
In related news, VP Susan J.S. Taylor sold 426 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $190.45, for a total transaction of $81,131.70. Following the transaction, the vice president now directly owns 11,428 shares in the company, valued at $2,176,462.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Patricia L. Wadors sold 1,066 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $191.80, for a total transaction of $204,458.80. Following the transaction, the senior vice president now owns 48,201 shares in the company, valued at $9,244,951.80. The disclosure for this sale can be found here. 12.72% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in LinkedIn Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,380,235 shares of the social networking company’s stock valued at $1,018,210,000 after buying an additional 227,311 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in LinkedIn Corp. by 4.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,818,342 shares of the social networking company’s stock valued at $533,371,000 after buying an additional 132,413 shares during the period. Harris Associates L P acquired a new position in LinkedIn Corp. during the second quarter valued at about $511,098,000. Pentwater Capital Management LP acquired a new position in LinkedIn Corp. during the second quarter valued at about $492,334,000. Finally, Carmignac Gestion boosted its position in LinkedIn Corp. by 126.0% in the second quarter. Carmignac Gestion now owns 2,150,209 shares of the social networking company’s stock valued at $406,927,000 after buying an additional 1,198,639 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
About LinkedIn Corp.
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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