Quadrature Capital Ltd Sells 40,122 Shares of Pinterest, Inc. $PINS

Quadrature Capital Ltd cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 45.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,737 shares of the company’s stock after selling 40,122 shares during the quarter. Quadrature Capital Ltd’s holdings in Pinterest were worth $1,748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Golden State Wealth Management LLC lifted its position in shares of Pinterest by 282.7% during the 2nd 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 purchased a new stake in shares of Pinterest during the second quarter valued at approximately $36,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest during the second quarter worth $40,000. SVB Wealth LLC purchased a new position in Pinterest in the first quarter worth $56,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Pinterest by 138.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 2.1%

PINS opened at $26.10 on Friday. The firm has a 50-day moving average price of $30.44 and a 200-day moving average price of $33.69. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.58 and a beta of 0.96.

Pinterest (NYSE:PINS) last released 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 company had revenue of $665.93 million during the quarter. On average, sell-side analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares in the company, valued at $10,887,906.70. This trade represents a 6.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The SEC filing for this sale provides additional information. Insiders sold 505,208 shares of company stock valued at $17,450,914 over the last three months. Company insiders own 7.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus raised their price objective on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Roth Capital dropped their target price on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group decreased their price target 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. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Pinterest in a report on Friday, August 8th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.10.

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.