Firsthand Capital Management Lowers stake in LinkedIn Corp (LNKD)

LinkedIn Corp (LNKD) : Firsthand Capital Management reduced its stake in LinkedIn Corp by 33.33% during the most recent quarter end. The investment management company now holds a total of 10,000 shares of LinkedIn Corp which is valued at $1.3 Million after selling 5,000 shares in LinkedIn Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.LinkedIn Corp makes up approximately 1.27% of Firsthand Capital Management’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in LNKD by selling 100 shares or 1.01% in the most recent quarter. The Hedge Fund company now holds 9,834 shares of LNKD which is valued at $1.2 Million.Sunbelt Securities reduced its stake in LNKD by selling 47 shares or 37.6% in the most recent quarter. The Hedge Fund company now holds 78 shares of LNKD which is valued at $9,909. LinkedIn Corp makes up approx 0.01% of Sunbelt Securities’s portfolio.Bbva Compass Bancshares Inc boosted its stake in LNKD in the latest quarter, The investment management firm added 953 additional shares and now holds a total of 2,534 shares of LinkedIn Corp which is valued at $308,692. LinkedIn Corp makes up approx 0.02% of Bbva Compass Bancshares Inc’s portfolio. Bluecrest Capital Management Ltd added LNKD to its portfolio by purchasing 2,044 company shares during the most recent quarter which is valued at $249,000. LinkedIn Corp makes up approx 0.02% of Bluecrest Capital Management Ltd’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in LNKD in the latest quarter, The investment management firm added 716 additional shares and now holds a total of 4,138 shares of LinkedIn Corp which is valued at $504,091. LinkedIn Corp makes up approx 0.05% of Tokio Marine Asset Management Co Ltd’s portfolio.

LinkedIn Corp opened for trading at $129 and hit $130 on the upside on Wednesday, eventually ending the session at $129.87, with a gain of 1.00% or 1.29 points. The heightened volatility saw the trading volume jump to 16,26,577 shares. Company has a market cap of $17,343 M.

On the company’s financial health, LinkedIn Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.60. The company had revenue of $861.00 million for the quarter, compared to analysts expectations of $828.66 million. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on LinkedIn Corp. Company shares were Reiterated by Mizuho on Apr 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 145 from a previous price target of $127 .Company shares were Reiterated by UBS on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 175 from a previous price target of $170 .Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 160 from a previous price target of $156 .

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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