Suvretta Capital Management LLC Has $15.99 Million Stake in Pinterest, Inc. $PINS

Suvretta Capital Management LLC grew its position in Pinterest, Inc. (NYSE:PINS) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 497,185 shares of the company’s stock after purchasing an additional 67,160 shares during the quarter. Suvretta Capital Management LLC owned approximately 0.07% of Pinterest worth $15,994,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PINS. N.E.W. Advisory Services LLC boosted its position in Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after acquiring an additional 713 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Pinterest by 46.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after purchasing an additional 419 shares during the period. Fifth Third Bancorp lifted its stake in shares of Pinterest by 2,409.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after purchasing an additional 1,325 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Pinterest during the 2nd quarter valued at about $45,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the subject of several recent analyst reports. Roth Mkm decreased their target price on Pinterest from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. KeyCorp cut their price target on Pinterest from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Evercore set a $25.00 price objective on shares of Pinterest and gave the stock an “in-line” rating in a research report on Friday, February 13th. Morgan Stanley lifted their price objective on shares of Pinterest from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Finally, Mizuho set a $35.00 target price on shares of Pinterest in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.87.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer owned 540,358 shares in the company, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the completion of the transaction, the insider directly owned 695,187 shares in the company, valued at $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,457 shares of company stock valued at $876,925 in the last 90 days. 7.06% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $18.20 on Friday. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The business’s 50 day simple moving average is $21.34 and its two-hundred day simple moving average is $27.37. The firm has a market cap of $12.11 billion, a P/E ratio of 29.84, a PEG ratio of 1.20 and a beta of 0.93.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.