Tiger Global, the hedge fund founded by
, chiseled down his LinkedIn Corporation (
) 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
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.
the founder of Tiger Global Management, a hedge fund, and a
former prot�g�e of Julian Robertson, an
early hedge fund pioneer.
GuruFocus Real Time Picks alerts you for the stock purchases and
sales that Gurus have made within the last two days. Follow your
favorite Gurus closely with GuruFocus' Premium Membership! If you
are not a Premium Member, we invite you for a 7-Day Free
Trial.About GuruFocus: GuruFocus.com tracks the stocks picks and
portfolio holdings of the world's best investors. This value
investing site offers stock screeners and valuation tools. And
publishes daily articles tracking the latest moves of the world's
best investors. GuruFocus also provides promising stock ideas in
3 monthly newsletters sent to