Kingstown Capital Management L.P. Sells 32,500 Shares of Pinterest, Inc. (NYSE:PINS)

Kingstown Capital Management L.P. trimmed its position in Pinterest, Inc. (NYSE:PINS) by 32.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,500 shares of the company’s stock after selling 32,500 shares during the period. Pinterest makes up approximately 1.7% of Kingstown Capital Management L.P.’s portfolio, making the stock its 16th biggest position. Kingstown Capital Management L.P.’s holdings in Pinterest were worth $4,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PINS. Los Angeles Capital Management LLC increased its position in Pinterest by 867.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 53,384 shares of the company’s stock valued at $3,518,000 after buying an additional 47,866 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Pinterest during the 4th quarter valued at about $207,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Pinterest during the 4th quarter valued at about $105,000. The Manufacturers Life Insurance Company boosted its stake in Pinterest by 30.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 15,202 shares of the company’s stock valued at $1,002,000 after purchasing an additional 3,548 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Pinterest by 27.6% during the 4th quarter. LPL Financial LLC now owns 156,500 shares of the company’s stock valued at $10,313,000 after purchasing an additional 33,867 shares during the last quarter. 61.06% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Todd R. Morgenfeld sold 64,339 shares of the stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $70.83, for a total value of $4,557,131.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Evan Sharp sold 69,194 shares of the stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $66.88, for a total transaction of $4,627,694.72. Following the completion of the transaction, the insider now directly owns 69,194 shares of the company’s stock, valued at $4,627,694.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 965,462 shares of company stock valued at $67,481,707. 8.45% of the stock is currently owned by company insiders.

A number of research firms have issued reports on PINS. Evercore ISI began coverage on Pinterest in a research note on Tuesday, April 13th. They set an “outperform” rating and a $97.00 price target for the company. Citigroup cut their target price on Pinterest from $85.00 to $65.00 in a research note on Monday, May 10th. Wedbush cut their target price on Pinterest from $100.00 to $91.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 28th. Rosenblatt Securities cut their target price on Pinterest from $90.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 28th. Finally, TheStreet downgraded Pinterest from a “c-” rating to a “d+” rating in a research note on Wednesday, April 28th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.45.

NYSE PINS traded down $0.64 during trading on Thursday, hitting $71.59. 124,306 shares of the company’s stock traded hands, compared to its average volume of 8,238,455. The business’s fifty day moving average price is $69.33. Pinterest, Inc. has a 12-month low of $23.56 and a 12-month high of $89.90. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of -1,207.50 and a beta of 1.26.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.19. The company had revenue of $485.23 million during the quarter, compared to analyst estimates of $471.49 million. Pinterest had a negative net margin of 0.46% and a positive return on equity of 4.86%. Pinterest’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.09 EPS for the current year.

Pinterest Profile

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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