LinkedIn Corp (LNKD) Jumps Premarket After Mizuho Initiates Bullish Coverage, Smart Money Bearish

How have hedgies been trading LinkedIn Corp (NYSE:LNKD)?

When looking at the hedgies followed by Insider Monkey, Philippe Laffont’s Coatue Management had the largest position in LinkedIn Corp (NYSE:LNKD), worth close to $555.4 million, holding 2.22 million shares, the position accounting for 5.3% of its total 13F portfolio. Coming in second is D.E. Shaw & Co., L.P., managed by David E. Shaw, which held a $307 million position of 1.23 million shares; the fund had 0.5% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism comprise Alex Snow’s Lansdowne Partners, John Griffin’s Blue Ridge Capital, and Christopher Lord’s Criterion Capital.

Conatus Capital Management, led by David Stemerman, assembled the biggest new position in LinkedIn Corp (NYSE:LNKD), as it had $29.3 million invested in the company at the end of the quarter, buying 117,143 shares. Backing up the previous data, the largest new position was a relatively small one. Among the bears, however, the biggest was Matrix Capital Management helmed by David Goel and Paul Ferri, which sold 925,000 shares worth $212.48 million by the end of March. Another bearish fund was Cadian Capital managed by Eric Bannasch, which sold its entire $148.03 million stake comprised of 644,400 shares.

Because of the bearish sentiment LinkedIn Corp (NYSE:LNKD) experienced by the start of the second quarter, we don’t recommend a long position in the professional social network and media company at the moment, at least not until we see whether the smart money found a good entry point in the second quarter from its decline.

Disclosure: None