Pinterest, Inc. (NYSE:PINS) Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Pinterest, Inc. by 358.9% in Q1, owning 9,500 shares worth $294,000 after acquiring an additional 7,430 shares.
• Many institutional investors have also increased their stakes in Pinterest, with more than 88% of the stock owned by such investors and hedge funds.
• Pinterest's stock has seen target price adjustments from various analysts, with a consensus rating of "Moderate Buy" and an average target price of $41.48.

Bayforest Capital Ltd increased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 358.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,500 shares of the company's stock after acquiring an additional 7,430 shares during the period. Bayforest Capital Ltd's holdings in Pinterest were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the period. Marshall Wace LLP grew its holdings in 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 period. Ameriprise Financial Inc. grew its holdings 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. Contour Asset Management LLC acquired a new position in Pinterest during the fourth quarter worth about $86,330,000. Finally, Shapiro Capital Management LLC acquired a new position in Pinterest during the fourth quarter worth about $84,190,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the topic of a number of research analyst reports. Barclays lowered their target price on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus increased their price target on Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Citigroup reiterated a "buy" rating and issued a $44.00 price target (up previously from $41.00) on shares of Pinterest in a research report on Tuesday, June 24th. Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $37.00 to $45.00 in a research report on Monday, July 21st. Finally, The Goldman Sachs Group decreased their price target on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average target price of $41.48.

Pinterest Trading Up 0.8%

Shares of NYSE PINS opened at $38.62 on Friday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The firm has a market capitalization of $26.20 billion, a PE ratio of 14.10, a PEG ratio of 1.92 and a beta of 0.94. The business has a 50-day moving average price of $35.16 and a two-hundred day moving average price of $32.81.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. Research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other news, CTO Matthew Madrigal sold 20,000 shares of Pinterest stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $38.58, for a total transaction of $771,600.00. Following the completion of the sale, the chief technology officer directly owned 428,823 shares in the company, valued at $16,543,991.34. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the sale, the chief financial officer owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,502,611 shares of company stock worth $51,602,943 over the last quarter. Insiders own 7.06% of the company's stock.

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.

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