Maytus Capital Management LLC Cuts Position in Pinterest, Inc. (NYSE:PINS)

Maytus Capital Management LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 66.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,000 shares of the company’s stock after selling 100,000 shares during the quarter. Maytus Capital Management LLC’s holdings in Pinterest were worth $1,450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD lifted its holdings in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Norges Bank purchased a new position in shares of Pinterest in the fourth quarter worth about $358,205,000. Marshall Wace LLP boosted its position in 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 last quarter. Ameriprise Financial Inc. grew its stake in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after acquiring an additional 4,527,902 shares in the last quarter. Finally, Contour Asset Management LLC purchased a new stake in Pinterest during the 4th quarter valued at about $86,330,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $196,187.98. This represents a 94.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the transaction, the director now directly owns 26,786 shares in the company, valued at $723,222. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock valued at $14,828,392 over the last quarter. Insiders own 7.06% of the company’s stock.

Pinterest Trading Up 12.3%

Pinterest stock opened at $32.82 on Tuesday. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.95 and a beta of 0.83. The stock has a 50 day moving average of $28.77 and a two-hundred day moving average of $31.21. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last announced 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). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period in the prior year, the company earned $0.17 EPS. The company’s revenue was up 15.5% on a year-over-year basis. Equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

PINS has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Raymond James lowered Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. Barclays lowered their price target on Pinterest from $42.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Royal Bank of Canada upped their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.27.

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.