Dorsal Capital Management Lowers stake in LinkedIn Corp (LNKD)

LinkedIn Corp (LNKD) : Dorsal Capital Management reduced its stake in LinkedIn Corp by 68.89% during the most recent quarter end. The investment management company now holds a total of 70,000 shares of LinkedIn Corp which is valued at $13,412,700 after selling 155,000 shares in LinkedIn Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.LinkedIn Corp makes up approximately 1.11% of Dorsal Capital Management’s portfolio.

Other Hedge Funds, Including , Crosslink Capital Inc sold out all of its stake in LNKD during the most recent quarter. The investment firm sold 22,730 shares of LNKD which is valued $4,355,295.Allianz Asset Management Ag boosted its stake in LNKD in the latest quarter, The investment management firm added 197,962 additional shares and now holds a total of 207,796 shares of LinkedIn Corp which is valued at $39,815,792. LinkedIn Corp makes up approx 0.06% of Allianz Asset Management Ag’s portfolio.Blackrock Fund Advisors boosted its stake in LNKD in the latest quarter, The investment management firm added 134,347 additional shares and now holds a total of 1,143,192 shares of LinkedIn Corp which is valued at $219,047,019. LinkedIn Corp makes up approx 0.05% of Blackrock Fund Advisors’s portfolio. Edge Asset Management Inc sold out all of its stake in LNKD during the most recent quarter. The investment firm sold 93,044 shares of LNKD which is valued $17,842,117.

LinkedIn Corp closed down -0.02 points or -0.01% at $192.73 with 8,81,025 shares getting traded on Thursday. Post opening the session at $192.55, the shares hit an intraday low of $192.41 and an intraday high of $192.83 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, LinkedIn Corp reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.78. The company had revenue of $932.71 million for the quarter, compared to analysts expectations of $898.56 million. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on LinkedIn Corp. Company shares were Downgraded by RBC Capital Mkts on Jun 15, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 196 from a previous price target of $160 .LinkedIn Corp was Downgraded by Nomura to ” Neutral” on Jun 15, 2016. LinkedIn Corp was Downgraded by First Analysis Sec to ” Equal-Weight” on Jun 14, 2016.

LinkedIn Corporation (LinkedIn) 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. The Company’s solutions include Free Solutions and Monetized Solutions. Its Free Solutions includes the service to manage professional identity service to build and engage with professional networks access to knowledge insights and opportunities and ubiquitous access. The Company also provides other solutions which provide members enterprises and professional organizations with functionality and additional benefits.

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