KRS Capital Management LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

KRS Capital Management LLC acquired a new position in Pinterest, Inc. (NYSE:PINSGet Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 725 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds also recently modified their holdings of the company. Primecap Management Co. CA grew its position in shares of Pinterest by 81.2% during the 4th quarter. Primecap Management Co. CA now owns 2,568,200 shares of the company’s stock valued at $93,354,000 after purchasing an additional 1,151,100 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its stake in shares of Pinterest by 53.1% during the fourth quarter. Evolutionary Tree Capital Management LLC now owns 282,249 shares of the company’s stock valued at $10,260,000 after acquiring an additional 97,929 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Pinterest by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 7,182,363 shares of the company’s stock valued at $260,736,000 after acquiring an additional 378,599 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Pinterest by 0.6% during the fourth quarter. Eagle Asset Management Inc. now owns 3,479,068 shares of the company’s stock valued at $132,030,000 after acquiring an additional 19,546 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Pinterest by 45.6% during the fourth quarter. Renaissance Technologies LLC now owns 3,174,378 shares of the company’s stock valued at $115,389,000 after acquiring an additional 994,378 shares during the last quarter. Institutional investors own 63.76% of the company’s stock.

In related news, CFO Todd R. Morgenfeld sold 53,016 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $26.37, for a total value of $1,398,031.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Naveen Gavini sold 22,957 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $25.47, for a total value of $584,714.79. The disclosure for this sale can be found here. Insiders have sold a total of 358,339 shares of company stock worth $8,200,218 in the last quarter. 7.58% of the stock is currently owned by insiders.

A number of research analysts have recently commented on the company. Credit Suisse Group lowered their target price on Pinterest from $39.00 to $31.00 in a research note on Thursday, April 28th. Royal Bank of Canada lowered their price objective on Pinterest from $51.00 to $34.00 and set a “sector perform” rating for the company in a research note on Friday, February 4th. Bank of America lowered their price objective on Pinterest from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, February 4th. Barclays lowered their price objective on Pinterest from $50.00 to $37.00 and set an “equal weight” rating for the company in a research note on Friday, February 4th. Finally, Piper Sandler lowered their price objective on Pinterest from $46.00 to $35.00 in a research note on Thursday, April 28th. Twenty research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.64.

Shares of PINS stock opened at $22.59 on Tuesday. The firm’s 50 day moving average price is $23.07 and its 200-day moving average price is $29.60. Pinterest, Inc. has a one year low of $18.32 and a one year high of $81.77. The firm has a market cap of $14.99 billion, a P/E ratio of 47.06, a P/E/G ratio of 4.14 and a beta of 1.24.

Pinterest (NYSE:PINSGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Pinterest had a return on equity of 12.69% and a net margin of 12.48%. The company had revenue of $574.89 million during the quarter, compared to the consensus estimate of $568.27 million. During the same period in the previous year, the business earned ($0.02) EPS. Analysts forecast that Pinterest, Inc. will post 0.38 EPS for the current fiscal year.

About Pinterest (Get Rating)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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