Southpoint Capital Advisors LP Buys 200,000 Shares of Pinterest, Inc. (NYSE:PINS)

Southpoint Capital Advisors LP increased its stake in Pinterest, Inc. (NYSE:PINS) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,000,000 shares of the company’s stock after acquiring an additional 200,000 shares during the quarter. Pinterest accounts for approximately 2.7% of Southpoint Capital Advisors LP’s portfolio, making the stock its 20th largest position. Southpoint Capital Advisors LP owned approximately 0.59% of Pinterest worth $116,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of 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 worth $366,000 after buying an additional 342 shares during the last quarter. Ethos Financial Group LLC lifted its holdings in shares of Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after buying an additional 350 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Pinterest by 0.9% in 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Pinterest by 20.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company’s stock worth $75,000 after buying an additional 429 shares in the last quarter. Finally, Redwood Investment Management LLC lifted its holdings in shares of Pinterest by 3.2% in the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company’s stock worth $463,000 after buying an additional 495 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the sale, the director now owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 862,168 shares of company stock worth $28,368,681. 7.06% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Shares of Pinterest stock opened at $32.56 on Monday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The company has a market cap of $22.08 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.95 and a beta of 0.83. The business’s 50 day moving average price is $28.74 and its 200 day moving average price is $31.22.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. During the same quarter in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Stifel Nicolaus reduced their price target on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer increased their price target on shares of Pinterest from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. UBS Group reduced their price target on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Wedbush reiterated an “outperform” rating and set a $40.00 price target (up from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.26.

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.