IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 27,015 Shares of Pinterest, Inc. (NYSE:PINS)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 224.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,040 shares of the company's stock after purchasing an additional 27,015 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Pinterest were worth $1,132,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PINS. State Street Corp boosted its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after purchasing an additional 156,748 shares in the last quarter. Geode Capital Management LLC boosted its position in Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock worth $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ninety One UK Ltd raised its holdings in Pinterest by 5.4% in the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock worth $158,677,000 after purchasing an additional 278,362 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Pinterest in the third quarter worth about $153,829,000. Finally, ARK Investment Management LLC boosted its holdings in Pinterest by 0.4% in the 4th quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company's stock worth $127,210,000 after buying an additional 17,997 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PINS shares. Morgan Stanley boosted their price objective on shares of Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Cantor Fitzgerald boosted their price target on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Oppenheimer raised their price target on Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Pinterest Stock Up 1.7 %

PINS traded up $0.53 during trading on Tuesday, hitting $31.53. The company had a trading volume of 2,314,131 shares, compared to its average volume of 10,036,078. The firm's 50-day moving average price is $34.67 and its 200 day moving average price is $32.42. The company has a market capitalization of $21.38 billion, a PE ratio of 11.69, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

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 return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's 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 completion of the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock valued at $11,640,201 in the last three months. 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.