Contour Asset Management LLC Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Contour Asset Management LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,976,896 shares of the company's stock, valued at approximately $86,330,000. Pinterest comprises about 2.5% of Contour Asset Management LLC's investment portfolio, making the stock its 19th biggest holding. Contour Asset Management LLC owned about 0.44% of Pinterest at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PINS. Whipplewood Advisors LLC acquired a new stake in Pinterest in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after purchasing an additional 415 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after purchasing an additional 1,204 shares during the period. V Square Quantitative Management LLC grew its position in Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after buying an additional 590 shares in the last quarter. Finally, Huntington National Bank increased its stake in Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company's stock valued at $59,000 after buying an additional 1,680 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINS. Oppenheimer upped their price target on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday. Benchmark cut their target price on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Pinterest from $30.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday. Piper Sandler cut their price objective on Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Guggenheim lowered their target price on Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, Pinterest has an average rating of "Moderate Buy" and an average price target of $40.27.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company's stock, valued at $195,497.84. This trade represents a 94.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now owns 26,786 shares of the company's stock, valued at approximately $723,222. This trade represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock worth $14,828,392 in the last quarter. 7.06% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Shares of NYSE PINS traded up $1.37 during mid-day trading on Friday, reaching $29.23. 44,136,643 shares of the company traded hands, compared to its average volume of 10,588,785. The company's fifty day moving average is $28.84 and its two-hundred day moving average is $31.21. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The stock has a market cap of $19.82 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the business earned $0.17 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Pinterest Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.