Freshford Capital Management LLC Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Freshford Capital Management LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 502,374 shares of the company's stock, valued at approximately $14,569,000. Pinterest makes up 4.2% of Freshford Capital Management LLC's investment portfolio, making the stock its 11th biggest position. Freshford Capital Management LLC owned about 0.07% of Pinterest at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PINS. Price T Rowe Associates Inc. MD raised its stake in shares of Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after buying an additional 12,986,310 shares in the last quarter. FMR LLC raised its position in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after acquiring an additional 316,633 shares in the last quarter. Norges Bank acquired a new stake in Pinterest in the 4th quarter valued at about $358,205,000. Marshall Wace LLP boosted its position in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after purchasing an additional 6,129,985 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Pinterest by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company's stock worth $279,281,000 after purchasing an additional 181,767 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock valued at $14,828,392 over the last 90 days. 7.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on PINS shares. Cantor Fitzgerald raised their target price on shares of Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Stifel Nicolaus reduced their price objective on Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Friday, January 10th. Bank of America decreased their price target on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, 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 report on Monday, March 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.10.

Pinterest Price Performance

NYSE:PINS traded up $0.30 during trading hours on Friday, reaching $26.05. The company's stock had a trading volume of 15,813,508 shares, compared to its average volume of 10,567,246. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The business's 50-day moving average is $30.87 and its 200-day moving average is $31.66.

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