Alyeska Investment Group L.P. Has $9.85 Million Stake in Pinterest, Inc. (NYSE:PINS)

Alyeska Investment Group L.P. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 87.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 339,707 shares of the company’s stock after selling 2,300,257 shares during the period. Alyeska Investment Group L.P.’s holdings in Pinterest were worth $9,852,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after buying an additional 342 shares in the last quarter. Ethos Financial Group LLC raised its position in Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank raised its position in Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after purchasing an additional 372 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, Steph & Co. boosted its holdings in Pinterest by 6.4% during the fourth quarter. Steph & Co. now owns 7,048 shares of the company’s stock valued at $204,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on Pinterest from $42.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. Oppenheimer upped their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Bank of America decreased their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays lifted their price target on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.93.

Pinterest Trading Up 2.3 %

PINS stock opened at $27.48 on Tuesday. The firm has a 50-day moving average price of $29.49 and a 200-day moving average price of $31.32. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The stock has a market capitalization of $18.64 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now owns 26,786 shares of the company’s stock, valued at $723,222. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock valued at $14,828,392 over the last ninety days. 7.11% of the stock is owned by company insiders.

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.