Norges Bank acquired a new stake in LinkedIn Corp during the fourth quarter valued at about $192,379,000.
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Earlier this year, LinkedIn said it had miscalculated some of its strategic moves and that the company would grow more slowly than expected, forcing some analysts to reconsider their positive opinions on the stock.
In related news, VP Michael John Callahan sold 933 shares of the business’s stock in a transaction dated Wednesday, February 17th. Following the transaction, the chief accounting officer now owns 7,017 shares of the company’s stock, valued at $801,271.23. It also raised its revenue forecast to $3.65 billion-$3.70 billion from $3.60 billion-$3.65 billion. The disclosure for this sale can be found here.
Want to see what other hedge funds are holding LNKD? Vetr lowered shares of LinkedIn Corp from a “strong-buy” rating to a “buy” rating and set a $214.62 price objective for the company.in a report on Monday, February 1st. Sell signal was given by “4” and Hold signal was disclosed by “18” analysts. LinkedIn’s 52-week range is $98.25 to $258.39 and its consensus analyst target price is $164.28.
LinkedIn surged 19 percent to $141.73 in after-hours trading. The stock had a trading volume of 894,059 shares. The stock’s 50-day moving average price is $114.24 and its 200-day moving average price is $179.35. The company’s market cap is $15.96 billion.
LinkedIn released its latest earnings report after closing bell tonight, posting adjusted earnings of 74 cents per share on $860.7 million in revenue.
The analysts expect LinkedIn’s 1Q2016 revenue figure to be 30% higher than revenue in the same quarter a year ago.
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The 35% year-over-year increase in revenue was driven by talent solutions revenue, which was up 41% to $557.65 million. Street expectations were for EPS of $0.60. LinkedIn Corp’s revenue was up 34.0% on a year-over-year basis. For the year, management envisions sales of $3.65 billion to $3.7 billion and EPS of $3.30 to $3.40, compared to a consensus of $3.67 billion and $3.19. Premium Subscriptions revenue increased 22 percent to $149 million.
