Shellback Capital LP Has $1.45 Million Stake in Pinterest, Inc. (NYSE:PINS)

Shellback Capital LP lowered its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 87.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,000 shares of the company's stock after selling 350,000 shares during the quarter. Shellback Capital LP's holdings in Pinterest were worth $1,450,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at about $28,000. Strategic Investment Solutions Inc. IL lifted its stake in 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 buying an additional 1,204 shares during the period. V Square Quantitative Management LLC lifted its stake in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after buying an additional 590 shares during the period. Huntington National Bank lifted its stake in Pinterest by 484.1% in the fourth quarter. Huntington National Bank now owns 2,027 shares of the company's stock valued at $59,000 after buying an additional 1,680 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in Pinterest by 98.5% in the fourth quarter. CoreCap Advisors LLC now owns 2,096 shares of the company's stock valued at $61,000 after buying an additional 1,040 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director now directly owns 6,274 shares in the company, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm'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 owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 862,168 shares of company stock worth $28,368,681 over the last ninety days. 7.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PINS. Piper Sandler cut their target price on Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Raymond James lowered Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. UBS Group dropped their price target on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. BMO Capital Markets dropped their price target on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Bank of America dropped their price target on Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Price Performance

PINS stock traded up $0.23 during mid-day trading on Tuesday, reaching $32.25. The company had a trading volume of 12,550,658 shares, compared to its average volume of 10,757,884. The stock has a 50 day simple moving average of $28.72 and a two-hundred day simple moving average of $31.22. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, equities analysts predict that Pinterest, Inc. will post 0.6 EPS 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.