Pinterest, Inc. $PINS Shares Purchased by Rare Wolf Capital LLC

Rare Wolf Capital LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 136.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 96,388 shares of the company’s stock after buying an additional 55,622 shares during the quarter. Pinterest accounts for about 1.1% of Rare Wolf Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Rare Wolf Capital LLC’s holdings in Pinterest were worth $1,821,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Net Worth Advisory Group acquired a new stake in Pinterest during the 3rd quarter worth about $302,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Pinterest by 17.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,067 shares of the company’s stock valued at $568,000 after purchasing an additional 4,387 shares during the last quarter. IFP Advisors Inc grew its stake in Pinterest by 110.9% during the 3rd quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock valued at $66,000 after purchasing an additional 1,846 shares during the last quarter. Daytona Street Capital LLC purchased a new stake in Pinterest during the 3rd quarter valued at about $45,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Pinterest by 300.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company’s stock valued at $83,084,000 after purchasing an additional 3,299,884 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Trading Up 2.8%

Shares of Pinterest stock opened at $22.97 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81. The firm has a fifty day moving average price of $20.90 and a 200 day moving average price of $21.02. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $35.42. The stock has a market cap of $12.86 billion, a PE ratio of 67.55, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Equities research analysts predict that Pinterest, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PINS shares. Zacks Research lowered Pinterest from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Rosenblatt Securities lifted their target price on Pinterest from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Guggenheim upped their target price on Pinterest from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Citigroup upped their target price on Pinterest from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird increased their price target on shares of Pinterest from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.90.

Insider Buying and Selling

In other Pinterest news, CFO Julia Donnelly sold 29,548 shares of Pinterest stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $18.61, for a total transaction of $549,888.28. Following the completion of the transaction, the chief financial officer owned 751,921 shares in the company, valued at approximately $13,993,249.81. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Claude Leonard Brown sold 12,240 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $20.00, for a total value of $244,800.00. Following the completion of the transaction, the insider directly owned 1,130,768 shares of the company’s stock, valued at approximately $22,615,360. This trade represents a 1.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 644,952 shares of company stock valued at $13,652,019 over the last quarter. 8.09% of the stock is currently owned by company insiders.

Pinterest Company Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.