357,859 Shares in Pinterest, Inc. $PINS Bought by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP opened a new position in Pinterest during the fourth quarter, buying 357,859 shares valued at about $9.3 million.
• Several other institutional investors also increased or initiated stakes, and overall institutional ownership stands at 88.81% of Pinterest shares.
• Pinterest reported stronger-than-expected quarterly results, with EPS of $0.27 versus estimates of $0.22 and revenue up 17.8% year over year to $1.01 billion.

Invenomic Capital Management LP acquired a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 357,859 shares of the company's stock, valued at approximately $9,265,000. Invenomic Capital Management LP owned approximately 0.05% of Pinterest as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new stake in shares of Pinterest in the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after buying an additional 1,049 shares in the last quarter. Addison Advisors LLC raised its position in shares of Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock worth $35,000 after buying an additional 1,200 shares in the last quarter. Garner Asset Management Corp purchased a new stake in shares of Pinterest in the fourth quarter worth $36,000. Finally, Fifth Third Bancorp raised its position in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock worth $44,000 after buying an additional 1,325 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Activity

In other news, Director Gokul Rajaram sold 2,100 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the transaction, the director directly owned 27,450 shares of the company's stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $21.15, for a total value of $991,406.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 171,112 shares of company stock valued at $3,595,596. 8.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PINS. Royal Bank Of Canada increased their price objective on Pinterest from $17.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 5th. Piper Sandler restated a "neutral" rating and set a $26.00 price target (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. UBS Group raised their price target on Pinterest from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Guggenheim restated a "buy" rating and set a $24.00 price target on shares of Pinterest in a research report on Monday. Finally, Rothschild & Co Redburn set a $23.00 price target on Pinterest and gave the company a "neutral" rating in a research report on Monday, April 27th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.40.

Pinterest Trading Down 3.7%

NYSE PINS opened at $20.37 on Thursday. The stock's 50-day simple moving average is $20.15 and its two-hundred day simple moving average is $21.51. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.21 and a beta of 0.92.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same quarter last year, the business posted $0.23 earnings per share. The company's revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts forecast that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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