Regal Partners Ltd cut its position in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,483,882 shares of the company’s stock after selling 343,402 shares during the quarter. Pinterest accounts for 8.4% of Regal Partners Ltd’s portfolio, making the stock its 3rd biggest holding. Regal Partners Ltd owned approximately 0.22% of Pinterest worth $36,029,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 372.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock valued at $487,394,000 after purchasing an additional 15,825,757 shares in the last quarter. Elliott Investment Management L.P. boosted its holdings in Pinterest by 200.0% during the third quarter. Elliott Investment Management L.P. now owns 15,000,000 shares of the company’s stock valued at $349,500,000 after purchasing an additional 10,000,000 shares in the last quarter. Marshall Wace LLP boosted its holdings in Pinterest by 627.8% during the third quarter. Marshall Wace LLP now owns 10,282,402 shares of the company’s stock valued at $239,583,000 after purchasing an additional 8,869,542 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Pinterest by 262.8% in the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after acquiring an additional 8,341,222 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Pinterest in the 4th quarter worth approximately $149,748,000. 71.95% of the stock is owned by institutional investors and hedge funds.
Pinterest Stock Up 0.7 %
Shares of NYSE PINS opened at $24.43 on Thursday. Pinterest, Inc. has a 1-year low of $16.77 and a 1-year high of $29.27. The company has a fifty day moving average price of $24.59 and a 200 day moving average price of $25.17.
Pinterest (NYSE:PINS – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The firm had revenue of $602.58 million during the quarter, compared to analyst estimates of $593.96 million. Pinterest had a negative net margin of 10.58% and a negative return on equity of 4.83%. As a group, sell-side analysts forecast that Pinterest, Inc. will post -0.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently commented on PINS. 888 reissued a “maintains” rating on shares of Pinterest in a report on Friday, April 28th. Raymond James began coverage on Pinterest in a report on Wednesday, April 5th. They issued an “outperform” rating and a $33.00 target price on the stock. Loop Capital reduced their target price on Pinterest from $32.00 to $28.00 in a report on Tuesday, May 2nd. Bank of America reduced their target price on Pinterest from $30.00 to $29.00 in a report on Friday, April 28th. Finally, Rosenblatt Securities boosted their target price on Pinterest from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Hold” and a consensus target price of $27.96.
Insider Transactions at Pinterest
In other news, SVP Naveen Gavini sold 11,185 shares of the stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $27.95, for a total transaction of $312,620.75. Following the completion of the transaction, the senior vice president now directly owns 350,507 shares in the company, valued at approximately $9,796,670.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Benjamin Silbermann sold 180,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $24.02, for a total transaction of $4,323,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Naveen Gavini sold 11,185 shares of the company’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $27.95, for a total transaction of $312,620.75. Following the completion of the sale, the senior vice president now directly owns 350,507 shares in the company, valued at $9,796,670.65. The disclosure for this sale can be found here. Insiders sold a total of 349,105 shares of company stock worth $8,849,792 in the last three months. Insiders own 6.85% of the company’s stock.
Pinterest Company Profile
Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.