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Tiger Global Sells 40% of LinkedIn Holding

July 31, 2012 | About:
Holly LaFon

Holly LaFon

254 followers
Tiger Global, the hedge fund founded by Chase Coleman, chiseled down his LinkedIn Corporation (LNKD) stake by 40.09% from June 18 to July 27, according to GuruFocus Real Time Picks. The stock traded in a range of $100.99 to $108.67 during those dates. He sold a total of 1,620,947 shares and has 2,421,981 shares remaining.

Tiger Global has reported owning shares of LinkedIn, the professional online networking site, since the third quarter of 2011 with 300,000 shares at an average price of $90 per share. But the firm's holding history goes back further than that. In May 24, 2011, the firm bought 2,436,001 shares at $45 each in LinkedIn’s IPO. In the last year the stock is up 0.77%, with an almost 62 percent increase year to date.

Other purchases were made in secondary transactions from Dec. 21, 2009 to Aug. 10, 2010. Tiger Global traded these shares for an average cost of $13 per share, earning a return on his original investment of 400%.

Since it began reporting in 2008, LinkedIn reported positive earnings for only 2010 and 2011. Revenue has increased from $78.8 million to $522 million in 2011.

In its first quarter of 2012, LinkedIn reported revenue growth of 101%, marking its seventh consecutive quarter when revenues at least doubled over the prior year. New membership increased 58% year over year, two thirds of which came from outside the U.S.

Chase Coleman the founder of Tiger Global Management, a hedge fund, and a former protégée of Julian Robertson, an early hedge fund pioneer.

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