CenterBook Partners LP Increases Position in Pinterest, Inc. (NYSE:PINS)

CenterBook Partners LP boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 82.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 83,707 shares of the company’s stock after purchasing an additional 37,843 shares during the period. CenterBook Partners LP’s holdings in Pinterest were worth $2,428,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PINS. APG Asset Management N.V. grew its stake in Pinterest by 647.6% in the 4th quarter. APG Asset Management N.V. now owns 390,770 shares of the company’s stock valued at $10,944,000 after acquiring an additional 338,500 shares during the period. Abacus FCF Advisors LLC lifted its holdings in Pinterest by 98.5% during the fourth quarter. Abacus FCF Advisors LLC now owns 76,064 shares of the company’s stock valued at $2,206,000 after purchasing an additional 37,748 shares in the last quarter. Renaissance Group LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at about $23,894,000. Renaissance Technologies LLC purchased a new stake in shares of Pinterest during the fourth quarter worth about $21,528,000. Finally, Shelton Capital Management acquired a new position in shares of Pinterest during the 4th quarter worth about $872,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Cowen cut their price objective on Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp dropped their price target on Pinterest from $41.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. The Goldman Sachs Group upped their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wedbush raised their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $42.68.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. This trade represents a 94.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated 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 transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,836 shares of company stock valued at $14,832,336. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Pinterest stock opened at $28.17 on Thursday. The company has a market capitalization of $19.10 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm has a 50 day moving average price of $33.70 and a 200 day moving average price of $32.24.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

About Pinterest

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.