Pinterest, Inc. (NYSE:PINS) Shares Sold by Shellback Capital LP

Shellback Capital LP reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 87.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after selling 350,000 shares during the period. Shellback Capital LP’s holdings in Pinterest were worth $1,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PINS. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest in the 4th quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL raised its stake in shares of Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after acquiring an additional 1,204 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the period. Huntington National Bank raised its stake in shares of Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after acquiring an additional 1,680 shares during the period. Finally, CoreCap Advisors LLC raised its stake in shares of Pinterest by 98.5% in the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company’s stock valued at $61,000 after acquiring an additional 1,040 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the transaction, the director now owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were 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 owns 6,274 shares of the company’s stock, valued at approximately $208,045.84. The trade was a 98.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 862,168 shares of company stock worth $28,368,681 in the last 90 days. Corporate insiders own 7.06% of the company’s stock.

Pinterest Stock Up 1.0%

NYSE PINS opened at $32.56 on Friday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The stock has a market capitalization of $22.08 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The firm has a 50 day moving average of $28.72 and a two-hundred day moving average of $31.23.

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

Analyst Ratings Changes

PINS has been the topic of a number of research analyst reports. Benchmark reduced their price target on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Wolfe Research raised shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Thursday. Morgan Stanley boosted their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Bank of America reduced their price target on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Seven 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.26.

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.