Boston, MA 10/09/2014 (wallstreetpr) – LinkedIn Corp (NYSE:LNKD) seems to be attracting attention of hedge funds like Dorsal Capital. The fund that was founded by Ryan Frick and Oliver Evans in 2009 has assets under management f more than $600 million.
As on the end of the first half of 2014, the assets under management stood at $579 million, and the fund returned nearly 5.4% for the same period. Meanwhile, the fund has returned nearly 48.5% since its inception in 2009.
As per a disclosure made by insidermonkey.com, which is an investor information site, Dorsal Capital has been referring to LinkedIn Corp (NYSE:LNKD) in its investor letter for the second quarter of 2014.
In the report, the company had mentioned that they are building positions in some of the stocks that have been laggards in the recent past, as they think that these stocks have positive alpha for the coming quarters. Dorsal Capital had mentioned LinkedIn Corp (NYSE:LNKD) as one of such stocks.
Meanwhile, it is worthwhile to note the fact that LinkedIn Corp (NYSE:LNKD) has been up by nearly 20% since the end of the second quarter of 2014.
In the last quarter of 2014, the company had reported $534 million in revenues, which was nearly 47% increase from the same period last year as well as beyond analysts expectations of around $511 million. The non-GAAP earnings for the company were 51 cents per share which was nearly 12 cents higher than the estimates and 34% more than the same period last year. On the basis of GAAP, LinkedIn had a net loss totaling to around $1 million.
LinkedIn Corp (NYSE:LNKD) expects the current third quarter’s revenues to be in the range of $543 to $547 million and a full year 2014 revenue in the range of $2.14 to $2.15 billion.