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LinkedIn Corp Director Sells $11,460,141 in Stock (LNKD)

LinkedIn Corp (NYSE:LNKD) Director Reid Hoffman sold 67,369 shares of the company’s stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of $170.11, for a total value of $11,460,140.59. The sale was disclosed in a filing with the SEC, which is available at this link.

LinkedIn Corp (NYSE:LNKD) traded down 1.95% on Friday, hitting $163.74. 747,620 shares of the company’s stock traded hands. LinkedIn Corp has a one year low of $136.02 and a one year high of $257.56. The stock’s 50-day moving average is $155.9 and its 200-day moving average is $189.9. The company’s market cap is $19.937 billion.

LinkedIn Corp (NYSE:LNKD) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.04. The company had revenue of $473.20 million for the quarter, compared to the consensus estimate of $466.70 million. During the same quarter last year, the company posted $0.45 earnings per share. LinkedIn Corp’s revenue was up 45.7% compared to the same quarter last year. On average, analysts predict that LinkedIn Corp will post $1.65 earnings per share for the current fiscal year.

LNKD has been the subject of a number of recent research reports. Analysts at Evercore Partners reiterated an “overweight” rating on shares of LinkedIn Corp in a research note on Tuesday, June 3rd. They now have a $220.00 price target on the stock, down previously from $240.00. Separately, analysts at Stifel Nicolaus cut their price target on shares of LinkedIn Corp from $240.00 to $175.00 in a research note on Monday, May 12th. Finally, analysts at Ned Davis Research upgraded shares of LinkedIn Corp from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $229.97.

LinkedIn Corporation (NYSE:LNKD) is a professional network on the Internet with approximately 277 million members in over 200 countries and territories.

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