Quadrature Capital Ltd Sells 40,122 Shares of Pinterest, Inc. $PINS

Quadrature Capital Ltd decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 45.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 48,737 shares of the company’s stock after selling 40,122 shares during the period. Quadrature Capital Ltd’s holdings in Pinterest were worth $1,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Pinterest by 5.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 18,818 shares of the company’s stock valued at $675,000 after acquiring an additional 943 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Pinterest by 45.0% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 31,908 shares of the company’s stock worth $1,144,000 after purchasing an additional 9,905 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Pinterest by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 596,583 shares of the company’s stock valued at $21,393,000 after purchasing an additional 6,780 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in Pinterest by 180.5% during the second quarter. Elevation Point Wealth Partners LLC now owns 20,078 shares of the company’s stock valued at $720,000 after purchasing an additional 12,920 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in Pinterest by 3.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after purchasing an additional 359 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

NYSE:PINS opened at $26.10 on Friday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a market cap of $17.63 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 1.58 and a beta of 0.96. The business has a 50 day moving average price of $30.44 and a 200-day moving average price of $33.69.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The company had revenue of $665.93 million for the quarter. Research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 505,208 shares of company stock worth $17,450,914. 7.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PINS. Wells Fargo & Company decreased their price target on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Mizuho began coverage on Pinterest in a research note on Monday, September 29th. They issued an “outperform” rating and a $50.00 target price on the stock. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Oppenheimer reiterated an “outperform” rating on shares of Pinterest in a report on Friday, August 8th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $30.00 price objective (down from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.10.

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.