Ieq Capital LLC Boosts Stake in Pinterest, Inc. (NYSE:PINS)

Ieq Capital LLC lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 75.1% in the 4th quarter, Holdings Channel reports. The firm owned 556,899 shares of the company’s stock after acquiring an additional 238,766 shares during the period. Ieq Capital LLC’s holdings in Pinterest were worth $16,150,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Private Advisor Group LLC grew its holdings in shares of Pinterest by 612.3% in the fourth quarter. Private Advisor Group LLC now owns 64,543 shares of the company’s stock worth $1,872,000 after acquiring an additional 55,482 shares during the period. TimesSquare Capital Management LLC grew its holdings in shares of Pinterest by 6.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,088,500 shares of the company’s stock worth $60,566,000 after acquiring an additional 124,855 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in shares of Pinterest by 31.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 532,296 shares of the company’s stock worth $15,437,000 after acquiring an additional 128,000 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Pinterest by 3,096.0% in the fourth quarter. Venturi Wealth Management LLC now owns 18,952 shares of the company’s stock worth $550,000 after acquiring an additional 18,359 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Pinterest by 13.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,197 shares of the company’s stock worth $702,000 after acquiring an additional 2,940 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PINS shares. JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Oppenheimer boosted their price target on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Rosenblatt Securities boosted their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $38.72 on Thursday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The stock’s 50 day simple moving average is $32.60 and its two-hundred day simple moving average is $31.72. The company has a market cap of $26.26 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest 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.