164,660 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Harvey Capital Management Inc.

Harvey Capital Management Inc. acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 164,660 shares of the company's stock, valued at approximately $4,775,000. Pinterest comprises approximately 1.1% of Harvey Capital Management Inc.'s investment portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its position in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock valued at $205,000 after acquiring an additional 313 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company's stock valued at $304,000 after acquiring an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock valued at $366,000 after acquiring an additional 342 shares during the period. Commerce Bank boosted its position in shares of Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company's stock valued at $384,000 after acquiring an additional 378 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,157 shares of company stock worth $589,131. Corporate insiders own 7.11% of the company's stock.

Pinterest Trading Down 0.3 %

NYSE:PINS traded down $0.13 on Friday, reaching $38.96. 7,736,410 shares of the stock traded hands, compared to its average volume of 10,502,726. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company's 50 day moving average is $32.06 and its 200-day moving average is $31.58. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) 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 net margin of 51.07% and a return on equity of 9.20%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Benchmark raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Friday, February 7th. 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 report on Friday, January 10th. KeyCorp upped their price objective on shares of Pinterest from $37.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Roth Mkm cut their price objective on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a research report on Friday, November 8th. Finally, Robert W. Baird cut their price objective on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $43.86.

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.