Point72 Hong Kong Ltd Increases Stake in Pinterest, Inc. (NYSE:PINS)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at about $28,000. Strategic Investment Solutions Inc. IL grew its holdings in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after acquiring an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after purchasing an additional 590 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Pinterest by 484.1% in the 4th 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 in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Pinterest by 98.5% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at $5,399,072.34. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 862,168 shares of company stock valued at $28,368,681. Insiders own 7.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Wedbush restated an "outperform" rating and issued a $40.00 price target (up previously from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Barclays decreased their price objective on Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group cut their price target on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.26.

Pinterest Stock Performance

NYSE PINS traded up $0.23 during trading hours on Tuesday, reaching $32.25. The company's stock had a trading volume of 12,550,658 shares, compared to its average volume of 10,757,884. The stock has a market cap of $21.87 billion, a PE ratio of 11.99, a PEG 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 company's 50-day moving average is $28.72 and its two-hundred day moving average is $31.22.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business 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%. Pinterest's revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. Equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal 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.