Concourse Capital Management Exits Position in LinkedIn Corp (LNKD)

LinkedIn Corp (LNKD) : Concourse Capital Management has sold out all of its stake in LinkedIn Corp during the most recent quarter, according to the disclosure filed by the company on Aug 2, 2016 with the SEC. The investment management company has sold out 34,792 shares of LinkedIn Corp which is valued at $6,689,110.

Other Hedge Funds, Including , Foundation Capital reduced its stake in LNKD by selling 3,604 shares or 70.39% in the most recent quarter. The Hedge Fund company now holds 1,516 shares of LNKD which is valued at $291,466. LinkedIn Corp makes up approx 0.07% of Foundation Capital’s portfolio. Capital Fund Management S.a. added LNKD to its portfolio by purchasing 1,067 company shares during the most recent quarter which is valued at $205,184.Daiwa Securities Group reduced its stake in LNKD by selling 14,546 shares or 42.24% in the most recent quarter. The Hedge Fund company now holds 19,893 shares of LNKD which is valued at $3,825,424. LinkedIn Corp makes up approx 0.02% of Daiwa Securities Group’s portfolio. Newsquare Capital sold out all of its stake in LNKD during the most recent quarter. The investment firm sold 48 shares of LNKD which is valued $9,230. Sphinx Trading Lp added LNKD to its portfolio by purchasing 1,500 company shares during the most recent quarter which is valued at $284,925. LinkedIn Corp makes up approx 2.29% of Sphinx Trading Lp’s portfolio.

LinkedIn Corp closed down -0.39 points or -0.20% at $191.76 with 11,75,821 shares getting traded on Monday. Post opening the session at $192.24, the shares hit an intraday low of $191.68 and an intraday high of $192.33 and the price fluctuated in this range throughout the day.Shares ended Monday 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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