Discovery Capital Management LLC CT Buys Shares of 269,600 Pinterest, Inc. (NYSE:PINS)

Discovery Capital Management LLC CT purchased a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 269,600 shares of the company's stock, valued at approximately $7,818,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new position in Pinterest in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after buying an additional 415 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after acquiring an additional 1,487 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after acquiring an additional 590 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Pinterest by 17,692.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company's stock valued at $67,000 after acquiring an additional 2,300 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of PINS stock traded down $1.73 during trading hours on Friday, reaching $25.78. The company had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The business has a fifty day simple moving average of $34.40 and a 200-day simple moving average of $32.38. Pinterest, Inc. has a 12 month low of $24.91 and a 12 month high of $45.19. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

Remove Ads

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

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the transaction, the director now owns 6,274 shares of the company's stock, valued at approximately $196,187.98. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PINS shares. Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a research note on Tuesday. Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities increased their target price on shares of Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Wedbush boosted their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

About Pinterest

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.