Greenland Capital Management LP Invests $5.75 Million in Pinterest, Inc. $PINS

Greenland Capital Management LP bought a new stake in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 160,234 shares of the company’s stock, valued at approximately $5,746,000.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares in the last quarter. West Branch Capital LLC acquired a new stake in shares of Pinterest in the 2nd quarter worth approximately $36,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest during the second quarter worth $40,000. SVB Wealth LLC acquired a new position in Pinterest during the first quarter worth $56,000. Finally, Larson Financial Group LLC grew its stake in Pinterest by 1,773.5% in the 1st quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $57,000 after acquiring an additional 1,738 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

NYSE PINS opened at $25.85 on Wednesday. The company has a market cap of $17.46 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.55 and a beta of 0.96. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The company has a 50-day moving average of $32.11 and a 200-day moving average of $33.94.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider directly owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 611,050 shares of company stock worth $21,260,379. 7.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PINS shares. The Goldman Sachs Group dropped their price objective on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Roth Capital dropped their price target on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Stifel Nicolaus upped their price objective on Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Bank of America decreased their price objective on Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Benchmark cut their target price on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $39.55.

Pinterest Company 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.