Night Squared LP Has $4.30 Million Stock Position in Pinterest, Inc. $PINS

Night Squared LP boosted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 545.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,033 shares of the company’s stock after acquiring an additional 101,442 shares during the period. Pinterest accounts for about 1.9% of Night Squared LP’s portfolio, making the stock its 25th biggest position. Night Squared LP’s holdings in Pinterest were worth $4,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in PINS. Price T Rowe Associates Inc. MD increased its position in Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Pinterest by 4.4% in the second quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock worth $604,673,000 after acquiring an additional 718,105 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Pinterest by 13.7% during the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after acquiring an additional 1,862,654 shares in the last quarter. Amundi lifted its position in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after purchasing an additional 12,271,958 shares in the last quarter. Finally, State Street Corp increased its holdings in Pinterest by 3.8% during the second quarter. State Street Corp now owns 13,855,047 shares of the company’s stock worth $496,842,000 after buying an additional 504,281 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of NYSE PINS opened at $27.20 on Wednesday. The business has a 50-day moving average of $29.50 and a two-hundred day moving average of $33.45. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The company has a market capitalization of $18.38 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89.

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

Analyst Ratings Changes

PINS has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Wedbush cut Pinterest from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $30.00 in a research note on Monday. Guggenheim cut their price objective on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 target price (down from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada reduced their price target on shares of Pinterest from $45.00 to $38.00 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-one have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.97.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the transaction, the insider directly owned 301,214 shares in the company, valued at approximately $8,099,644.46. The trade was a 19.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. This represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 301,042 shares of company stock worth $10,087,667. Insiders own 7.11% 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.