Analyst Slaps A SELL On LinkedIn, Says Insiders Are About To Start Shoveling Stock Out Door

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Photo: Gustty via Flickr

After last night’s better than expected earnings, another analyst is out with a negative note on LinkedIn’s stock.Ken Sena at Evercore Partners is slapping a $70 price target on the stock (which is trading at ~$95 now) and rating it underweight.

His biggest problem with the stock is that an estimated 92% of the shares are owned by insiders who are subject to lockup agreements which expire in November. There’s a big risk everyone will start selling the stock later this year causing the price to crater.

His other problem with the stock: It’s overvalued. It’s the only tech company he covers trading at 15X revenue.

As for the company’s actual earnings performance, he says it was strong, but not strong enough not to downgrade.

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