Greenhaven Road Investment Management L.P. Acquires New Holdings in Pinterest, Inc. $PINS

Greenhaven Road Investment Management L.P. acquired a new stake in shares of Pinterest, Inc. (NYSE:PINSFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,000 shares of the company’s stock, valued at approximately $2,848,000. Pinterest accounts for about 0.5% of Greenhaven Road Investment Management L.P.’s investment portfolio, making the stock its 11th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ieq Capital LLC lifted its position in Pinterest by 36.0% during the fourth quarter. Ieq Capital LLC now owns 1,028,132 shares of the company’s stock valued at $26,618,000 after purchasing an additional 272,359 shares during the period. Vontobel Holding Ltd. lifted its position in Pinterest by 30.2% during the fourth quarter. Vontobel Holding Ltd. now owns 65,575 shares of the company’s stock valued at $1,698,000 after purchasing an additional 15,212 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Pinterest by 53.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 63,593 shares of the company’s stock valued at $1,646,000 after purchasing an additional 22,151 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares during the period. Finally, Banco Santander S.A. bought a new position in Pinterest during the fourth quarter valued at approximately $8,373,000. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PINS. Benchmark lowered their price objective on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Rothschild & Co Redburn set a $23.00 price target on shares of Pinterest and gave the stock a “neutral” rating in a research report on Monday, April 27th. Mizuho increased their price target on shares of Pinterest from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Guggenheim increased their price target on shares of Pinterest from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus increased their price target on shares of Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Hold” and a consensus price target of $27.40.

Read Our Latest Report on PINS

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 2,100 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $21.78, for a total transaction of $1,020,937.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 124,237 shares of company stock valued at $2,604,190. Corporate insiders own 8.09% of the company’s stock.

Pinterest Stock Down 5.7%

Shares of PINS stock opened at $20.28 on Friday. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 1.16 and a beta of 0.92. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company’s fifty day moving average price is $19.98 and its 200-day moving average price is $21.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

Pinterest (NYSE:PINSGet Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Sell-side analysts expect that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Pinterest Company Profile

(Free Report)

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

See Also

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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