Versant Capital Management Inc Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Versant Capital Management Inc increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 6,591.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,439 shares of the company's stock after buying an additional 10,283 shares during the period. Versant Capital Management Inc's holdings in Pinterest were worth $324,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Norges Bank purchased a new position in shares of Pinterest in the fourth quarter worth $358,205,000. Marshall Wace LLP boosted 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 acquiring an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 last quarter. Finally, Contour Asset Management LLC purchased a new position in Pinterest during the fourth quarter valued at $86,330,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Stock Performance

NYSE:PINS traded up $0.83 during trading hours on Monday, reaching $31.94. The company's stock had a trading volume of 7,425,319 shares, compared to its average volume of 10,832,554. The stock has a 50 day moving average price of $28.57 and a two-hundred day moving average price of $31.22. The company has a market capitalization of $21.66 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last released 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 return on equity of 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company's revenue was up 15.5% on a year-over-year basis. As a group, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,941 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.75, for a total value of $140,890.75. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,152,611.75. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy S. Levine sold 50,535 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.98, for a total value of $1,717,179.30. Following the transaction, the director now directly owns 1,156,693 shares in the company, valued at approximately $39,304,428.14. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,066,426 shares of company stock worth $34,835,253 over the last quarter. Insiders own 7.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Oppenheimer lifted their target price on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Cantor Fitzgerald lifted their price objective on Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. The Goldman Sachs Group decreased their price objective on Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Monness Crespi & Hardt cut their target price on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Citigroup upped their price target on shares of Pinterest from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Pinterest presently has an average rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Company 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.