Eminence Capital LP Acquires 341,318 Shares of Pinterest, Inc. (NYSE:PINS)

Eminence Capital LP increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,651,051 shares of the company’s stock after acquiring an additional 341,318 shares during the period. Pinterest comprises about 2.5% of Eminence Capital LP’s portfolio, making the stock its 13th largest position. Eminence Capital LP’s holdings in Pinterest were worth $163,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Pinterest in the 4th quarter valued at $28,000. GAMMA Investing LLC raised its holdings in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its position in Pinterest by 401.3% during 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 during the last quarter. V Square Quantitative Management LLC grew 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 purchasing an additional 590 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock worth $59,000 after purchasing an additional 1,680 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

PINS stock opened at $27.03 on Wednesday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $31.29.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PINS. Stifel Nicolaus dropped their price target on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. TD Cowen lowered their price target on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Rosenblatt Securities boosted their target price on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Bank of America reduced their price objective on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.31.

Insider Activity

In other news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total transaction of $31,050.00. Following the completion of the sale, the director now directly owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,836 shares of company stock valued at $14,828,392. 7.11% of the stock is currently owned by corporate insiders.

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.