Sciencast Management LP Takes Position in Pinterest, Inc. (NYSE:PINS)

Sciencast Management LP purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,931 shares of the company’s stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp raised its position in shares of Pinterest by 1.2% in the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the period. Geode Capital Management LLC grew its stake in Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after acquiring an additional 76,920 shares in the last quarter. Ninety One UK Ltd grew its stake in Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after acquiring an additional 278,362 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Pinterest during the third quarter valued at approximately $153,829,000. Finally, ARK Investment Management LLC grew its stake in Pinterest by 0.4% during the fourth quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company’s stock valued at $127,210,000 after acquiring an additional 17,997 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, Director Jeremy S. Levine sold 50,535 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the sale, the director now directly owns 1,156,693 shares of the company’s stock, valued at approximately $39,304,428.14. This represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,812 shares of company stock valued at $6,798,857 in the last three months. 7.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of several recent analyst reports. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Royal Bank of Canada boosted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Guggenheim boosted their price objective on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.30.

Pinterest Price Performance

NYSE:PINS opened at $32.45 on Friday. The firm’s 50-day moving average price is $34.39 and its 200-day moving average price is $32.28. The company has a market capitalization of $22.01 billion, a PE ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities analysts anticipate 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.