Adage Capital Partners GP L.L.C. Lowers Stock Position in Pinterest, Inc. (NYSE:PINS)

Adage Capital Partners GP L.L.C. lessened its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 16.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the company's stock after selling 50,000 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Pinterest were worth $7,250,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PINS. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays boosted their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Citigroup cut their price target on Pinterest from $47.00 to $38.00 and set a "buy" rating for the company in a report on Monday, April 14th. Rosenblatt Securities lifted their target price on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, UBS Group lowered their price target on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.93.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock worth $14,828,392 over the last quarter. Corporate insiders own 7.11% of the company's stock.

Pinterest Trading Up 5.5 %

Shares of PINS stock traded up $1.41 during trading hours on Friday, hitting $26.90. 15,610,861 shares of the company were exchanged, compared to its average volume of 10,430,701. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The firm has a fifty day simple moving average of $29.87 and a 200 day simple moving average of $31.43. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

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.