Baillie Gifford & Co. Sells 8,643 Shares of Line Corp (LN)

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Baillie Gifford & Co. decreased its holdings in shares of Line Corp (NYSE:LN) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,256 shares of the technology company’s stock after selling 8,643 shares during the period. Baillie Gifford & Co. owned about 0.14% of Line worth $11,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Comerica Bank raised its position in Line by 14.7% in the 3rd quarter. Comerica Bank now owns 13,850 shares of the technology company’s stock valued at $503,000 after buying an additional 1,780 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Line in the 3rd quarter valued at approximately $167,000. PNC Financial Services Group Inc. raised its position in Line by 183.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,268 shares of the technology company’s stock valued at $137,000 after buying an additional 2,114 shares during the last quarter. Credit Suisse AG raised its position in Line by 1,178.6% in the 3rd quarter. Credit Suisse AG now owns 131,630 shares of the technology company’s stock valued at $5,546,000 after buying an additional 121,335 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Line in the 3rd quarter valued at approximately $882,000. 2.68% of the stock is owned by hedge funds and other institutional investors.

LN stock opened at $34.51 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 115.03 and a beta of 1.36. Line Corp has a twelve month low of $27.66 and a twelve month high of $46.48.

A number of brokerages recently issued reports on LN. Jefferies Financial Group reissued a “buy” rating on shares of Line in a research report on Friday. Credit Suisse Group lowered Line from a “neutral” rating to an “underperform” rating in a research report on Thursday. Zacks Investment Research lowered Line from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine lowered Line from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Evercore ISI started coverage on Line in a research note on Monday, February 25th. They issued an “outperform” rating for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold”.

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Line Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.

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Institutional Ownership by Quarter for Line (NYSE:LN)

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