Pinnacle Investment Management Ltd Invests $870,000 in Pinterest, Inc. (NYSE:PINS)

Pinnacle Investment Management Ltd acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,000 shares of the company's stock, valued at approximately $870,000. Pinterest makes up 0.6% of Pinnacle Investment Management Ltd's portfolio, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after buying an additional 12,986,310 shares during the period. Norges Bank acquired a new stake in shares of Pinterest in the fourth quarter worth $358,205,000. Marshall Wace LLP grew its stake in shares of Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after acquiring an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. increased its position in Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC acquired a new position in Pinterest during the 4th quarter valued at $86,330,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the completion of the transaction, the director now directly owns 26,786 shares in the company, valued at $723,222. This trade represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 964,343 shares of company stock valued at $31,622,701. Insiders own 7.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PINS shares. Stifel Nicolaus decreased their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Monness Crespi & Hardt decreased their target price on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company lowered their price target on Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Finally, Wolfe Research raised Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective on the stock in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Stock Performance

Pinterest stock traded down $0.84 on Monday, reaching $30.91. The company's stock had a trading volume of 8,527,708 shares, compared to its average volume of 10,824,493. The business's fifty day moving average price is $28.73 and its 200 day moving average price is $31.18. The company has a market cap of $20.96 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly 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). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. 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 company earned $0.17 EPS. The firm's quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

About Pinterest

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.