Catalyst Funds Management Pty Ltd Takes $940,000 Position in Pinterest, Inc. $PINS

Catalyst Funds Management Pty Ltd purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,200 shares of the company’s stock, valued at approximately $940,000.

Several other large investors have also bought and sold shares of PINS. Bronte Capital Management Pty Ltd. raised its stake in Pinterest by 13.4% during the second quarter. Bronte Capital Management Pty Ltd. now owns 955,830 shares of the company’s stock worth $34,276,000 after acquiring an additional 112,866 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Pinterest by 4.8% during the 2nd quarter. Howe & Rusling Inc. now owns 182,647 shares of the company’s stock valued at $6,550,000 after purchasing an additional 8,318 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Pinterest during the 2nd quarter worth approximately $71,221,000. GDS Wealth Management lifted its stake in Pinterest by 45.9% in the 2nd quarter. GDS Wealth Management now owns 265,984 shares of the company’s stock valued at $9,538,000 after purchasing an additional 83,740 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in Pinterest by 0.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 301,780 shares of the company’s stock valued at $10,822,000 after purchasing an additional 2,131 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the transaction, the insider owned 301,214 shares in the company, valued at $8,099,644.46. This represents a 19.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 607,291 shares of company stock worth $21,128,964 in the last 90 days. Corporate insiders own 7.06% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $24.81 on Friday. The business has a 50-day moving average of $31.71 and a 200-day moving average of $33.82. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million during the quarter. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PINS. The Goldman Sachs Group decreased their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company reduced their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. UBS Group dropped their target price on Pinterest from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Piper Sandler restated a “neutral” rating and set a $33.00 price target (down from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.55.

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.