MIG Capital LLC Buys 67,394 Shares of Pinterest, Inc. $PINS

MIG Capital LLC lifted its stake in Pinterest, Inc. (NYSE:PINS) by 331.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,752 shares of the company’s stock after acquiring an additional 67,394 shares during the quarter. MIG Capital LLC’s holdings in Pinterest were worth $3,147,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PINS. Renaissance Group LLC increased its position in shares of Pinterest by 4.5% during the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after purchasing an additional 43,541 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after buying an additional 49,204 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after buying an additional 54,365 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Pinterest during the second quarter worth $71,221,000. Finally, Bank of Montreal Can increased its holdings in Pinterest by 67.1% during the second quarter. Bank of Montreal Can now owns 113,053 shares of the company’s stock worth $4,054,000 after buying an additional 45,402 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on PINS shares. Roth Capital cut their price target on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Citigroup reaffirmed a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. The Goldman Sachs Group lowered their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Benchmark cut their price target on Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Evercore ISI reduced their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 505,208 shares of company stock valued at $17,450,914. Corporate insiders own 7.11% of the company’s stock.

Pinterest Trading Up 2.9%

Shares of Pinterest stock opened at $25.51 on Wednesday. The company has a market cap of $17.23 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.50 and a beta of 0.96. The company has a 50 day moving average of $31.06 and a 200-day moving average of $33.84. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million during the quarter. Research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.