Lone Pine Capital LLC Sells 257,389 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Lone Pine Capital LLC decreased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,922,748 shares of the financial services provider's stock after selling 257,389 shares during the period. LPL Financial comprises approximately 4.7% of Lone Pine Capital LLC's investment portfolio, making the stock its 8th biggest holding. Lone Pine Capital LLC owned approximately 2.57% of LPL Financial worth $627,796,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LPLA. Graney & King LLC acquired a new position in shares of LPL Financial in the fourth quarter valued at $30,000. Jones Financial Companies Lllp boosted its holdings in shares of LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after acquiring an additional 43 shares during the period. Atala Financial Inc acquired a new position in shares of LPL Financial in the fourth quarter valued at approximately $59,000. Compass Financial Services Inc bought a new position in shares of LPL Financial during the fourth quarter worth approximately $65,000. Finally, Quarry LP increased its stake in shares of LPL Financial by 275.0% during the fourth quarter. Quarry LP now owns 210 shares of the financial services provider's stock worth $69,000 after purchasing an additional 154 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company's stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 over the last quarter. Corporate insiders own 1.30% of the company's stock.

LPL Financial Price Performance

Shares of LPLA stock traded up $9.53 on Friday, hitting $333.56. 613,454 shares of the company's stock were exchanged, compared to its average volume of 823,821. The company has a 50 day moving average of $322.95 and a 200 day moving average of $325.49. The stock has a market cap of $26.47 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley raised their price target on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. StockNews.com cut shares of LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. Keefe, Bruyette & Woods increased their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, Barclays dropped their price target on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $369.83.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.