Point72 Asia Singapore Pte. Ltd. Takes Position in Pinterest, Inc. (NYSE:PINS)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,343 shares of the company’s stock, valued at approximately $474,000.

Several other large investors have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd increased its stake in Pinterest by 78.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 20,078 shares of the company’s stock valued at $582,000 after buying an additional 8,826 shares during the period. Quantinno Capital Management LP grew its holdings in Pinterest by 691.8% during the fourth quarter. Quantinno Capital Management LP now owns 194,978 shares of the company’s stock worth $5,654,000 after acquiring an additional 170,353 shares during the period. Man Group plc raised its holdings in shares of Pinterest by 58.8% in the 4th quarter. Man Group plc now owns 1,670,141 shares of the company’s stock worth $48,434,000 after purchasing an additional 618,280 shares in the last quarter. NorthRock Partners LLC bought a new stake in shares of Pinterest during the 4th quarter worth $312,000. Finally, Oaktop Capital Management II L.P. increased its stake in Pinterest by 20.0% in the 4th quarter. Oaktop Capital Management II L.P. now owns 300,000 shares of the company’s stock worth $8,700,000 after purchasing an additional 50,000 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 862,168 shares of company stock valued at $28,368,681 in the last three months. 7.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of several research analyst reports. Citigroup increased their price objective on Pinterest from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Monness Crespi & Hardt decreased their target price on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Morgan Stanley increased their price objective on Pinterest from $28.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Rosenblatt Securities boosted their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald upped their target price on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.26.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.28 on Friday. The business’s fifty day moving average price is $28.72 and its two-hundred day moving average price is $31.23. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share 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 during the quarter, compared to the consensus estimate of $848.49 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.