Magnetar Financial LLC Has $2.66 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Magnetar Financial LLC cut its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,801 shares of the company's stock after selling 55,084 shares during the quarter. Magnetar Financial LLC's holdings in Pinterest were worth $2,662,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in shares of Pinterest by 3.7% in the 3rd 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 lifted its stake in Pinterest by 2.8% in the 4th 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 purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC grew its holdings in Pinterest by 3.1% during the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock worth $342,000 after purchasing an additional 350 shares during the period. Amalgamated Bank increased its position in Pinterest by 0.9% during the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company's stock worth $1,154,000 after buying an additional 372 shares during the last quarter. Finally, Commerce Bank raised its stake in 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 buying an additional 378 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.64 during midday trading on Tuesday, hitting $34.68. 14,485,337 shares of the company traded hands, compared to its average volume of 9,907,940. The firm's fifty day moving average price is $34.46 and its 200-day moving average price is $32.31. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last posted 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 research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Pinterest from $42.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Cantor Fitzgerald lifted their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Guggenheim upgraded shares of Pinterest from a "neutral" rating to a "buy" rating and raised their target price for the stock from $39.00 to $40.00 in a research note on Monday. Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Barclays increased their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.33.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 29,605 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.95, for a total value of $1,005,089.75. Following the completion of the sale, the chief financial officer now directly owns 166,408 shares in the company, valued at $5,649,551.60. This represents a 15.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated 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 directly 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. Insiders sold a total of 237,417 shares of company stock valued at $7,803,946 in the last 90 days. Corporate insiders own 7.11% of the company's stock.

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.