Mason Capital Management LLC acquired a new stake in LinkedIn Corp (NYSE:LNKD) during the third quarter, Holdings Channel reports. The firm acquired 293,037 shares of the social networking company’s stock, valued at approximately $56,005,000. LinkedIn Corp comprises approximately 4.8% of Mason Capital Management LLC’s holdings, making the stock its 6th largest position. Mason Capital Management LLC owned 0.22% of LinkedIn Corp at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. raised its position in LinkedIn Corp by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,890,498 shares of the social networking company’s stock valued at $552,432,000 after buying an additional 72,156 shares during the last quarter. Harris Associates L P acquired a new position in LinkedIn Corp during the second quarter valued at approximately $511,098,000. Pentwater Capital Management LP acquired a new position in LinkedIn Corp during the second quarter valued at approximately $492,334,000. York Capital Management Global Advisors LLC acquired a new position in LinkedIn Corp during the third quarter valued at approximately $222,579,000. Finally, Farallon Capital Management LLC acquired a new position in LinkedIn Corp during the second quarter valued at approximately $174,110,000. Institutional investors and hedge funds own 63.98% of the company’s stock.
Several analysts have issued reports on the stock. Vetr downgraded shares of LinkedIn Corp from a “hold” rating to a “sell” rating and set a $178.04 price objective for the company. in a research report on Tuesday, November 8th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $220.00 price objective on shares of LinkedIn Corp in a research report on Monday, October 31st. RBC Capital Markets reaffirmed a “hold” rating and issued a $196.00 price objective on shares of LinkedIn Corp in a research report on Friday, October 28th. Finally, Argus reaffirmed a “hold” rating on shares of LinkedIn Corp in a research report on Tuesday, November 8th. Three investment analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and three have issued a buy rating to the company. LinkedIn Corp presently has an average rating of “Hold” and a consensus target price of $190.36.
In other LinkedIn Corp news, SVP Patricia L. Wadors sold 1,065 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $191.00, for a total value of $203,415.00. Following the completion of the sale, the senior vice president now directly owns 44,010 shares in the company, valued at $8,405,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeff Weiner sold 6,886 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $193.35, for a total value of $1,331,408.10. The disclosure for this sale can be found here. Insiders have sold 18,138 shares of company stock worth $3,504,352 in the last ninety days. 12.72% of the stock is currently owned by insiders.
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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