Oaktop Capital Management II L.P. Increases Holdings in Pinterest, Inc. (NYSE:PINS)

Oaktop Capital Management II L.P. raised its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Pinterest comprises approximately 1.1% of Oaktop Capital Management II L.P.'s investment portfolio, making the stock its 12th largest holding. Oaktop Capital Management II L.P.'s holdings in Pinterest were worth $8,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Meridiem Capital Partners LP bought a new stake in shares of Pinterest during the 4th quarter worth $8,962,000. Lazard Asset Management LLC increased its holdings in Pinterest by 14.5% during the fourth quarter. Lazard Asset Management LLC now owns 180,623 shares of the company's stock worth $5,237,000 after buying an additional 22,899 shares during the last quarter. Investor s Fiduciary Advisor Network LLC bought a new stake in Pinterest in the fourth quarter worth about $232,000. Janus Henderson Group PLC boosted its stake in Pinterest by 7.0% in the fourth quarter. Janus Henderson Group PLC now owns 43,640 shares of the company's stock valued at $1,265,000 after acquiring an additional 2,864 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in Pinterest in the fourth quarter valued at about $31,582,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.32 during midday trading on Friday, hitting $32.56. The company had a trading volume of 11,143,283 shares, compared to its average volume of 10,711,178. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The stock has a market capitalization of $22.08 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a 50 day moving average of $28.72 and a 200 day moving average of $31.23.

Pinterest (NYSE:PINS - Get Free Report) last posted 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). The firm had revenue of $854.99 million for the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, CAO Andrea Acosta sold 3,667 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 862,168 shares of company stock valued at $28,368,681 in the last 90 days. 7.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PINS. Oppenheimer lifted their price target on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Rosenblatt Securities boosted their target price on Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus dropped their price target on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group decreased their price objective on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Cantor Fitzgerald boosted their price objective on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average price target of $40.26.

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.