Southpoint Capital Advisors LP Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

Southpoint Capital Advisors LP lifted its position in Pinterest, Inc. (NYSE:PINS) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,000,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Pinterest accounts for approximately 2.7% of Southpoint Capital Advisors LP’s portfolio, making the stock its 20th biggest position. Southpoint Capital Advisors LP’s holdings in Pinterest were worth $116,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 buying an additional 12,986,310 shares during the period. 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 worth $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. FMR LLC grew its stake in Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Norges Bank acquired a new position in Pinterest during the 4th quarter worth $358,205,000. Finally, Marshall Wace LLP grew its stake in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after purchasing an additional 6,129,985 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PINS. KeyCorp boosted their target price on Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on Pinterest from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Raymond James cut Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. Morgan Stanley boosted their target price on Pinterest from $28.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, UBS Group lowered their target price on Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.26.

Pinterest Stock Up 1.0%

PINS opened at $32.56 on Monday. The business has a 50 day moving average price of $28.74 and a two-hundred day moving average price of $31.22. The company has a market cap of $22.08 billion, a PE ratio of 12.10, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other 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 completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred 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 directly owns 26,786 shares of the company’s stock, valued at approximately $723,222. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 862,168 shares of company stock valued at $28,368,681 in the last ninety days. Insiders own 7.06% of the company’s stock.

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.