Lineage, Inc.’s Quiet Period To Expire on September 3rd (NASDAQ:LINE)

Lineage’s (NASDAQ:LINE) quiet period is set to expire on Tuesday, September 3rd. Lineage had issued 56,882,051 shares in its initial public offering on July 25th. The total size of the offering was $4,436,799,978 based on an initial share price of $78.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

Several brokerages have issued reports on LINE. Truist Financial began coverage on Lineage in a report on Monday, August 19th. They set a “buy” rating and a $94.00 price objective on the stock. The Goldman Sachs Group began coverage on Lineage in a report on Monday, August 19th. They set a “buy” rating and a $105.00 price objective on the stock. Bank of America began coverage on Lineage in a report on Monday, August 19th. They set a “buy” rating and a $100.00 price objective on the stock. Royal Bank of Canada began coverage on Lineage in a report on Monday, August 19th. They set an “outperform” rating and a $94.00 price objective on the stock. Finally, Evercore ISI raised their price target on Lineage from $88.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.87.

Lineage Stock Up 0.5 %

Shares of NASDAQ:LINE opened at $83.90 on Friday. Lineage has a 52 week low of $80.15 and a 52 week high of $89.85.

Insider Activity at Lineage

In other news, insider Jeffrey Alvarez Rivera acquired 600 shares of Lineage stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $78.00 per share, for a total transaction of $46,800.00. Following the completion of the transaction, the insider now directly owns 5,406 shares in the company, valued at $421,668. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jeffrey Alvarez Rivera purchased 600 shares of Lineage stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $78.00 per share, for a total transaction of $46,800.00. Following the transaction, the insider now owns 5,406 shares in the company, valued at $421,668. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Crisci purchased 10,000 shares of Lineage stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $780,000. The disclosure for this purchase can be found here. Insiders bought a total of 12,150 shares of company stock worth $947,700 over the last 90 days. Company insiders own 1.40% of the company’s stock.

About Lineage

Our purpose is to transform the global food supply chain to eliminate waste and help feed the world. Built with the vision of creating a more sustainable future, we are a leading mission-critical, temperature-controlled infrastructure provider for the storage, handling and movement of food around the world.