Brevan Howard Capital Management LP Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Brevan Howard Capital Management LP purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 239,190 shares of the company's stock, valued at approximately $6,937,000.

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

Pinterest Stock Up 4.9 %

Shares of PINS stock traded up $1.37 during trading hours on Friday, hitting $29.23. 44,136,643 shares of the company's stock traded hands, compared to its average volume of 10,588,787. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month 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. The stock's 50 day simple moving average is $28.84 and its 200 day simple moving average is $31.21.

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

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now owns 26,786 shares of the company's stock, valued at $723,222. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,836 shares of company stock worth $14,828,392. 7.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Rosenblatt Securities raised their price target on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Bank of America dropped their target price on Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald upped their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their price target on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.27.

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.