For those of you who have been investing in the internet tech scene for a few years, you know that things can change very quickly. We saw this with MySpace falling to the likes of Facebook years back, and we are starting to see this again with new websites and apps entering the social media arena. Things change, and LinkedIn Corp (NYSE:LNKD) apparently realizes this.
Today, the company launches their revamped mobile apps, hoping to bring the social network up to date, and continue to ward off potential competitors. The new design for the mobile app is much cleaner, faster, and easier to use than the LinkedIn apps that we are all used to. Back in October Techcrunch previewed the new app, and the internet world seemed to approve.
“We would like for 3 billion of people to have a profile on LinkedIn,” LinkedIn CEO Jeff Weiner explained back in October. “We’d like a digital representation for every job opening. We’ll have a profile for every educational organization, and we’re developing a publishing platform for those to share knowledge to do so.”
The stock increased 2.80% or $6.82 during the last trading session, hitting $249.93. LNKD has declined 2.85% since April 29, 2015 and is downtrending. It has underperformed the S&P500 by 2.65%.
From a total of 16 analysts covering LinkedIn (NYSE:LNKD) stock, 11 rate it a “Buy”, 0 a “Sell”, and 5 a “Hold”. This means that 69% of the ratings are positive. The highest target price is $311 while the lowest target price is $184. The mean of all analyst targets is $252.96 with a 1.21% above today’s ($249.93) stock price. LinkedIn was the topic of 24 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. M Partners maintained shares on November 10 with a “Buy” rating. FBR Capital maintained shares with a”Mkt Perform” rating and a $189 target share price their a report from an October 30. UBS maintained LNKD stock in a recent report from October 30 with a “Buy” rating. Axiom Capital maintained the rating on October 30. Axiom Capital has a “Buy” rating and a $285 price target on shares. Finally, Canaccord Genuity maintained the stock with a “Buy” rating in a report they issued on an October 30.
The institutional sentiment decreased to 1.06 in Q2 2015. Its down 0.31, from 1.37 in 2015Q1. The ratio dropped, as 105 funds sold all their LinkedIn Corp shares they owned while 131 reduced their positions. 68 funds bought stakes while 183 increased their total positions. Institutions now own 99.46 million shares which is 1.13% more than the previous share count of 98.35 million in 2015Q1.
Criterion Capital Management Llc holds 7.11% of its total portfolio in LinkedIn Corp, equating to 903,027 shares. Scge Management L.P. owns 240,000 shares representing 6.59% of their total US portfolio. Moreover, Glynn Capital Management Llc has 6.24% of their total portfolio invested in the company, equating to 94,855 shares. The Maryland-based Ithaka Group Llc has a total of 4.85% of their portfolio invested in the stock. Sands Capital Management Llc, a Virginia-based fund reported 7.40 million shares owned.
Since March 3, 2015, the stock had 0 buys, and 22 sales for a total of $13.44 million in net activity. Gamson Michael sold 4,722 shares worth $929,429. Callahan Michael John sold 698 shares worth $136,445. Scott James Kevin sold 5,059 shares worth $947,055. Taylor Susan J.S. sold 612 shares worth $114,211. The insider Battle A George sold 174 shares worth $32,627.
LinkedIn Corporation is a professional network on the Internet. The company has a market cap of $32.06 billion. The Company’s three product lines include Talent Solutions, Marketing Solutions and Premium Subscriptions. It currently has negative earnings. 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 clients and individual members purchasing subscriptions.