Baillie Gifford & Co. cut its stake in shares of LINE Corporation (NYSE:LN) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 604,811 shares of the technology company’s stock after selling 98,628 shares during the period. Baillie Gifford & Co. owned about 0.27% of LINE Corporation worth $21,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. William Blair Investment Management LLC raised its stake in LINE Corporation by 22.6% during the 1st quarter. William Blair Investment Management LLC now owns 676,540 shares of the technology company’s stock valued at $26,020,000 after buying an additional 124,546 shares during the last quarter. Tybourne Capital Management HK Ltd. purchased a new stake in LINE Corporation during the 1st quarter valued at $22,900,000. ANTIPODES PARTNERS Ltd raised its stake in LINE Corporation by 32.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 361,234 shares of the technology company’s stock valued at $12,564,000 after buying an additional 89,000 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in LINE Corporation during the 1st quarter valued at $12,905,000. Finally, PNC Financial Services Group Inc. raised its stake in LINE Corporation by 7.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 135,486 shares of the technology company’s stock valued at $5,211,000 after buying an additional 9,782 shares during the last quarter. Institutional investors and hedge funds own 3.71% of the company’s stock.

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LINE Corporation (LN) traded up 0.53% during midday trading on Monday, hitting $35.74. The stock had a trading volume of 5,962 shares. LINE Corporation has a 52-week low of $30.90 and a 52-week high of $51.48. The firm has a 50-day moving average of $35.38 and a 200 day moving average of $35.42. The firm has a market capitalization of $7.88 billion, a P/E ratio of 63.71 and a beta of 0.40.

LN has been the subject of several analyst reports. Instinet upgraded LINE Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 31st. Nomura upgraded LINE Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded LINE Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, ValuEngine lowered LINE Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold”.

LINE Corporation Profile

LINE Corporation is a Japan-based company mainly engaged in the operation of LINE business portal business. Its LINE business portal segment includes communication and content service and advertising service. Communication and content service provides communication, contents and other services, such as LINE Pay, LINE FRIENDS and LINE Mobile.

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Institutional Ownership by Quarter for LINE Corporation (NYSE:LN)

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