LinkedIn Corp.’s (LNKD) “Hold” Rating Reiterated at Jefferies Group

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LinkedIn Corp. (NYSE:LNKD)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group in a note issued to investors on Tuesday. They presently have a $196.00 price objective on the social networking company’s stock. Jefferies Group’s target price indicates a potential upside of 1.66% from the company’s previous close.
In related news, SVP Michael Gamson sold 2,596 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $189.36, for a total value of $491,578.56. Following the completion of the transaction, the senior vice president now owns 70,041 shares in the company, valued at approximately $13,262,963.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeff Weiner sold 6,834 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $190.45, for a total value of $1,301,535.30. Following the completion of the transaction, the chief executive officer now owns 69,057 shares of the company’s stock, valued at approximately $13,151,905.65. The disclosure for this sale can be found here.
A number of other research firms have also recently weighed in on LNKD. Mizuho reissued a “neutral” rating and set a $196.00 price objective (up previously from $145.00) on shares of LinkedIn Corp. in a report on Monday, June 13th. Vetr raised shares of LinkedIn Corp. from a “hold” rating to a “buy” rating and set a $201.43 target price on the stock in a report on Monday, July 4th. Evercore ISI assumed coverage on shares of LinkedIn Corp. in a report on Monday, July 25th. They issued a “hold” rating and a $196.00 target price on the stock. Wells Fargo & Co. cut shares of LinkedIn Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, June 13th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $196.00 target price on shares of LinkedIn Corp. in a report on Friday, August 5th. Three analysts have rated the stock with a sell rating, thirty-three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $198.89.

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LinkedIn Corp. (NYSE:LNKD) remained flat at $192.80 on Tuesday. 346,989 shares of the stock traded hands. LinkedIn Corp. has a 52 week low of $98.25 and a 52 week high of $258.39. The company’s 50 day moving average is $191.66 and its 200-day moving average is $149.67. The company’s market cap is $25.98 billion.
LinkedIn Corp. (NYSE:LNKD) last released its quarterly earnings data on Thursday, August 4th. The social networking company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The company had revenue of $933 million for the quarter, compared to analyst estimates of $898.30 million. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. On average, equities analysts anticipate that LinkedIn Corp. will post $3.84 EPS for the current year.
Several institutional investors recently added to or reduced their stakes in LNKD. Carmignac Gestion raised 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 worth $406,927,000 after buying an additional 1,198,639 shares during the period. Capital World Investors raised its position in LinkedIn Corp. by 26.6% in the fourth quarter. Capital World Investors now owns 4,513,883 shares of the social networking company’s stock worth $1,015,985,000 after buying an additional 949,290 shares during the period. Norges Bank bought a new position in LinkedIn Corp. during the fourth quarter worth $192,379,000. Balyasny Asset Management LLC raised its position in LinkedIn Corp. by 1,002.5% in the fourth quarter. Balyasny Asset Management LLC now owns 387,198 shares of the social networking company’s stock worth $87,151,000 after buying an additional 352,078 shares during the period. Finally, Millennium Management LLC raised its position in LinkedIn Corp. by 10,356.3% in the fourth quarter. Millennium Management LLC now owns 198,566 shares of the social networking company’s stock worth $44,693,000 after buying an additional 196,667 shares during the period.
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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