Pinterest, Inc. (NYSE:PINS) Stock Position Lifted by Inflection Point Investments LLP

Inflection Point Investments LLP raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,658 shares of the company’s stock after buying an additional 50,963 shares during the period. Pinterest comprises about 11.5% of Inflection Point Investments LLP’s investment portfolio, making the stock its 5th biggest holding. Inflection Point Investments LLP’s holdings in Pinterest were worth $8,458,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC increased its position in shares of Pinterest by 9.9% during the fourth quarter. Townsquare Capital LLC now owns 45,727 shares of the company’s stock valued at $1,326,000 after buying an additional 4,127 shares during the period. Qtron Investments LLC boosted its holdings in Pinterest by 173.2% in the fourth quarter. Qtron Investments LLC now owns 28,294 shares of the company’s stock worth $821,000 after acquiring an additional 17,939 shares in the last quarter. Covestor Ltd grew its position in Pinterest by 31.6% during the 4th quarter. Covestor Ltd now owns 6,157 shares of the company’s stock valued at $179,000 after purchasing an additional 1,479 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Pinterest by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 310,758 shares of the company’s stock valued at $9,012,000 after acquiring an additional 11,650 shares in the last quarter. Finally, CenterBook Partners LP increased its holdings in shares of Pinterest by 82.5% in the 4th quarter. CenterBook Partners LP now owns 83,707 shares of the company’s stock worth $2,428,000 after purchasing an additional 37,843 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PINS. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday, January 10th. TD Cowen reduced their price target on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Rosenblatt Securities boosted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Roth Capital set a $32.00 target price on shares of Pinterest in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.23.

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the transaction, the director now owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $26.35 on Monday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The business has a 50 day simple moving average of $33.42 and a two-hundred day simple moving average of $32.16. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.