Line Corp (NYSE:LN) Shares Sold by Comerica Bank

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Comerica Bank lowered its holdings in shares of Line Corp (NYSE:LN) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,294 shares of the technology company’s stock after selling 485 shares during the period. Comerica Bank’s holdings in Line were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LN. Wells Fargo & Company MN raised its position in Line by 103.5% during the second quarter. Wells Fargo & Company MN now owns 2,527 shares of the technology company’s stock worth $71,000 after acquiring an additional 1,285 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Line during the third quarter worth about $104,000. JPMorgan Chase & Co. raised its position in Line by 51.5% during the second quarter. JPMorgan Chase & Co. now owns 3,965 shares of the technology company’s stock worth $113,000 after acquiring an additional 1,348 shares during the last quarter. Quadrant Capital Group LLC raised its position in Line by 2,503.2% during the third quarter. Quadrant Capital Group LLC now owns 4,113 shares of the technology company’s stock worth $145,000 after acquiring an additional 3,955 shares during the last quarter. Finally, OneAscent Financial Services LLC acquired a new position in Line during the second quarter worth about $229,000. Institutional investors own 3.40% of the company’s stock.

NYSE:LN opened at $47.42 on Friday. The firm has a 50 day simple moving average of $39.27 and a 200-day simple moving average of $33.83. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.98 and a quick ratio of 1.94. The firm has a market cap of $11.59 billion, a PE ratio of -296.38 and a beta of 1.10. Line Corp has a 1-year low of $27.04 and a 1-year high of $51.97.

A number of equities analysts have issued reports on LN shares. ValuEngine cut shares of Line from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Zacks Investment Research lowered shares of Line from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, Credit Suisse Group raised shares of Line from an “underperform” rating to a “neutral” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $3,500.00.

About Line

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables 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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