Freshford Capital Management LLC Invests $14.57 Million in Pinterest, Inc. (NYSE:PINS)

Freshford Capital Management LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 502,374 shares of the company's stock, valued at approximately $14,569,000. Pinterest makes up about 4.2% of Freshford Capital Management LLC's investment portfolio, making the stock its 11th largest position. Freshford Capital Management LLC owned approximately 0.07% of Pinterest as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Pinterest in the 4th quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after acquiring an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock valued at $44,000 after acquiring an additional 1,204 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after acquiring an additional 590 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company's stock worth $59,000 after purchasing an additional 1,680 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

PINS has been the topic of several recent analyst reports. UBS Group reduced their target price on Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their price objective on Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Friday, January 10th. Oppenheimer increased their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Wedbush restated an "outperform" rating on shares of Pinterest in a report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.10.

Pinterest Stock Performance

Shares of NYSE:PINS traded down $0.24 during midday trading on Monday, hitting $25.82. The company's stock had a trading volume of 3,574,120 shares, compared to its average volume of 10,530,970. The stock's 50 day simple moving average is $30.87 and its 200 day simple moving average is $31.63. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.95 and a beta of 0.99. 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 released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the transaction, the director now owns 26,786 shares in the company, valued at approximately $723,222. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the transaction, the director now directly owns 6,274 shares of the company's stock, valued at $196,187.98. This represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,836 shares of company stock valued at $14,828,392. 7.11% of the stock is owned by company insiders.

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.