Dallas, Texas 08/15/2014 (FINANCIALSTRENDS) – LinkedIn Corp (NYSE:LNKD) according to analysts was found to see the company’s CFO shedding key stake in the professional networking site in the open markets.
Chief Financial Officer Steven J. Sordello was found to be selling 5,000 shares of the stock in the open market, on Wednesday. The prices points at which these stock were sold was reportedly at $215.13 and the entire transaction was found to be $1,075,650.00. The reason of such activities is yet to be ascertained.
However, the impact of insider selling was found in the number of investors withdrawing from this stock.
Impact of Insider Selling
Typically, it is observed by investors, if there is insider selling or buying of a company’s stocks. Sales or buys are associated with strong intentions and next moves of such companies and investors choose to remain invested or withdraw from the same.
LinkedIn Corp (NYSE:LNKD) has in recent weeks been receiving coverage by analysts. Stifei Nicolaus offered coverage noted that the ‘buy’ rating on the stock was in the range of $250.0.It was also noted by analysts Piper Jaffray that the price target of shares had risen from earlier $270 to $282, as of August 1.
Other analysts covering this stock include the likes of Wedbush who raise their price target on the LinkedIn Corp (NYSE:LNKD) from $170 to $200, the research noted.
Investment analysts, who have differently rated the stocks, include one who rated a sell on this stock. In the meanwhile, nine of the analysts have also posted hold rating, while sixteen of such analysts have also noted ‘buy’ rating on the stocks of the company.
Overall consensus on the rating of this stock is ‘buying’ as against an average target price of $233.40.