Southpoint Capital Advisors LP Buys 200,000 Shares of Pinterest, Inc. (NYSE:PINS)

Southpoint Capital Advisors LP increased its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,000,000 shares of the company's stock after purchasing an additional 200,000 shares during the quarter. Pinterest makes up about 2.7% of Southpoint Capital Advisors LP's investment portfolio, making the stock its 20th biggest holding. Southpoint Capital Advisors LP owned 0.59% of Pinterest worth $116,000,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of Pinterest in the fourth quarter valued at about $28,000. Strategic Investment Solutions Inc. IL increased its position in Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after acquiring an additional 1,204 shares during the period. V Square Quantitative Management LLC increased its position in Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after acquiring an additional 590 shares during the period. Huntington National Bank increased its position in Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company's stock worth $59,000 after acquiring an additional 1,680 shares during the period. Finally, CoreCap Advisors LLC raised its position in shares of Pinterest by 98.5% in the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company's stock valued at $61,000 after buying an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PINS shares. Guggenheim dropped their price objective on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Roth Capital set a $32.00 price target on shares of Pinterest in a research report on Monday, February 3rd. 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 report on Friday, May 9th. KeyCorp upped their price target on shares of Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus decreased their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Stock Down 1.5%

NYSE:PINS traded down $0.49 during mid-day trading on Thursday, hitting $31.73. 9,209,019 shares of the stock traded hands, compared to its average volume of 10,787,693. The business's 50-day moving average price is $28.74 and its 200 day moving average price is $31.23. The company has a market cap of $21.52 billion, a PE ratio of 11.80, 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 issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates 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 company earned $0.17 EPS. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. Analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company's stock, valued at $8,350,831.35. This represents a 2.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now directly owns 26,786 shares of the company's stock, valued at $723,222. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 861,018 shares of company stock valued at $28,323,613. Corporate insiders own 7.06% of the company's stock.

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.