Pinterest, Inc. (NYSE:PINS) Shares Sold by JAT Capital Mgmt LP

JAT Capital Mgmt LP reduced its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 98.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,462 shares of the company's stock after selling 688,038 shares during the period. JAT Capital Mgmt LP's holdings in Pinterest were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock worth $366,000 after purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC boosted its stake in shares of Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock valued at $342,000 after buying an additional 350 shares during the period. Amalgamated Bank lifted its stake in Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company's stock worth $1,154,000 after acquiring an additional 372 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Finally, Steph & Co. boosted its position in shares of Pinterest by 6.4% during the 4th quarter. Steph & Co. now owns 7,048 shares of the company's stock worth $204,000 after acquiring an additional 425 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PINS shares. Piper Sandler dropped their target price on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Morgan Stanley lowered their price objective on shares of Pinterest from $42.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Oppenheimer upped their target price on shares of Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.93.

Pinterest Price Performance

Shares of PINS stock traded up $0.44 during midday trading on Monday, reaching $27.31. 4,661,862 shares of the company traded hands, compared to its average volume of 10,368,310. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The firm has a market cap of $18.52 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The firm's 50 day simple moving average is $29.68 and its two-hundred day simple moving average is $31.36.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now owns 6,274 shares in the company, valued at $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,836 shares of company stock worth $14,828,392. 7.11% of the stock is owned by corporate 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.