Picton Mahoney Asset Management Sells 68,381 Shares of Pinterest, Inc. (NYSE:PINS)

Picton Mahoney Asset Management cut its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,245 shares of the company's stock after selling 68,381 shares during the quarter. Picton Mahoney Asset Management's holdings in Pinterest were worth $8,676,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC boosted its position in shares of Pinterest by 279,496.9% in the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company's stock valued at $126,286,000 after acquiring an additional 4,670,394 shares during the period. Ameriprise Financial Inc. boosted its holdings in Pinterest by 43.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company's stock valued at $300,639,000 after purchasing an additional 3,390,924 shares during the period. Clearbridge Investments LLC grew its position in shares of Pinterest by 26.0% during the 3rd quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company's stock valued at $184,357,000 after purchasing an additional 1,407,793 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Pinterest by 2,666.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,420,258 shares of the company's stock worth $52,606,000 after purchasing an additional 1,368,927 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Pinterest in the third quarter worth $31,426,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PINS shares. Stifel Nicolaus upped their target price on shares of Pinterest from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, May 1st. BMO Capital Markets increased their target price on shares of Pinterest from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, May 1st. Evercore ISI boosted their price target on shares of Pinterest from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Rosenblatt Securities reaffirmed a "buy" rating and set a $48.00 price objective (up from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Finally, KeyCorp reduced their price target on Pinterest from $48.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average target price of $41.26.

Insider Activity at Pinterest

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the transaction, the director now directly owns 54,215 shares in the company, valued at approximately $1,986,979.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the transaction, the director now owns 54,215 shares in the company, valued at $1,986,979.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,471 shares of company stock worth $5,773,431. Corporate insiders own 7.11% of the company's stock.

Pinterest Trading Up 1.7 %

PINS stock traded up $0.72 on Wednesday, hitting $42.62. The company had a trading volume of 12,262,858 shares, compared to its average volume of 10,232,092. Pinterest, Inc. has a 12-month low of $21.02 and a 12-month high of $42.80. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 202.96, a P/E/G ratio of 4.02 and a beta of 0.99. The stock's 50-day simple moving average is $35.16 and its 200 day simple moving average is $34.91.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Research analysts forecast that Pinterest, Inc. will post 0.43 earnings per share for the current year.

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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