Hedge Fund Sentiment Suggests You Should Not Rush Into These Stocks Upgraded Today

Another tech stock upgraded by analysts today is LinkedIn Corp (NYSE:LNKD), on which Brean Capital issued an updated with a ‘Hold’ rating, versus the previous ‘Sell’ and a price target of $184, up from $172. However, as its stock lost 17% during the second quarter, LinkedIn Corp (NYSE:LNKD) lost popularity among investors from our database and the number of funds holding shares of LinkedIn Corp (NYSE:LNKD) slid by 18 to 42 during the period and the total value of their positions slumped to $1.79 billion, equal to 6.90% of the company, from $2.49 billion at the end of March. Among these investors, Lansdowne Partners held the largest stake at the end of June, which contained 1.06 million shares, followed by Christopher Lord’s Criterion Capital and John Griffin’s Blue Ridge Capital, which owned 903,000 shares and 785,000 shares respectively.

The stock of the provider of chocolate and confectionery products, Hershey Co (NYSE:HSY) reacted the most on today’s upgrade and jumped by over 3% in Wednesday intraday trading. The stock was upgraded by JPMorgan Chase & Co. to ‘Overweight’ from ‘Neutral’ and the analyst also raised the price target to $100 from $90. However, among the funds from our database, Hershey Co (NYSE:HSY) has fewer fans compared to the previous companies. At the end of June, 20 funds reported holding $602.62 million worth of stock, representing 3% of the company, up from 22 investors with stakes valued at $490.23 million in aggregate. Among them, Jim Simons‘ Renaissance Technologies holds by far the largest stake, which contained 3.17 million shares, followed by John Overdeck and David Siegel’s Two Sigma Advisors, which initiated a position in Hershey Co (NYSE:HSY) with 839,200 shares during the second quarter.

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