Lecap Asset Management Ltd. Buys 23,610 Shares of Pinterest, Inc. (NYSE:PINS)

Lecap Asset Management Ltd. grew its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,042 shares of the company's stock after purchasing an additional 23,610 shares during the period. Lecap Asset Management Ltd.'s holdings in Pinterest were worth $2,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 104.3% during 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 during the fourth quarter worth about $358,205,000. Marshall Wace LLP raised its position in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. Finally, Contour Asset Management LLC acquired a new position in shares of Pinterest in the 4th quarter valued at approximately $86,330,000. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

NYSE PINS traded down $0.37 during trading on Wednesday, reaching $35.37. 7,637,451 shares of the company's stock were exchanged, compared to its average volume of 10,924,648. The business has a 50 day moving average price of $30.64 and a 200-day moving average price of $31.67. The stock has a market capitalization of $23.99 billion, a P/E ratio of 12.91, a PEG ratio of 1.68 and a beta of 0.91. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its 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 return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business's revenue was up 15.5% compared to the same quarter last year. On average, analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $34.82, for a total value of $3,554,530.06. Following the transaction, the director now directly owns 8,414 shares of the company's stock, valued at $292,975.48. This represents a 92.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of Pinterest stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $32.24, for a total value of $395,036.72. Following the sale, the insider now directly owns 228,510 shares of the company's stock, valued at $7,367,162.40. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,045,416 shares of company stock valued at $34,519,739 over the last ninety days. 7.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on PINS shares. Benchmark cut their price target on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. BMO Capital Markets dropped their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus reduced their target price on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Finally, Barclays cut their price target on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of "Moderate Buy" and an average price target of $40.52.

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.