Point72 Hong Kong Ltd Has $582,000 Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Point72 Hong Kong Ltd boosted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 78.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,078 shares of the company's stock after purchasing an additional 8,826 shares during the quarter. Point72 Hong Kong Ltd's holdings in Pinterest were worth $582,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. FMR LLC boosted its holdings in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after acquiring an additional 316,633 shares during the period. Norges Bank bought a new stake in shares of Pinterest during the fourth quarter worth approximately $358,205,000. Finally, Marshall Wace LLP boosted its holdings in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after acquiring an additional 6,129,985 shares during the period. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PINS. Wells Fargo & Company reduced their price objective on Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Piper Sandler dropped their price target on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Pinterest from $30.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. The Goldman Sachs Group dropped their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, UBS Group dropped their price target on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 11th. 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.26.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 861,018 shares of company stock worth $28,323,613 over the last three months. Company insiders own 7.06% of the company's stock.

Pinterest Price Performance

NYSE PINS traded up $0.03 on Thursday, reaching $32.25. The company had a trading volume of 3,783,104 shares, compared to its average volume of 10,749,039. The firm has a market cap of $21.88 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The business has a 50 day moving average of $28.75 and a two-hundred day moving average of $31.23.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.