Greenland Capital Management LP Invests $5.75 Million in Pinterest, Inc. $PINS

Greenland Capital Management LP acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, Holdings Channel reports. The fund acquired 160,234 shares of the company’s stock, valued at approximately $5,746,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi raised its holdings in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after buying an additional 12,271,958 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares in the last quarter. Swedbank AB increased its holdings in shares of Pinterest by 344.0% during the first quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock valued at $181,024,000 after purchasing an additional 4,524,433 shares during the period. Pacer Advisors Inc. raised its stake in shares of Pinterest by 4,673.9% during the first quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company’s stock valued at $78,484,000 after purchasing an additional 2,478,708 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new stake in Pinterest in the second quarter worth about $82,516,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 611,050 shares of company stock valued at $21,260,379 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $30.00 price target (down from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. Bank of America cut their target price on Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Wedbush lowered their price target on Pinterest from $44.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Roth Capital cut their price objective on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Citigroup reiterated a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. One investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.55.

Pinterest Trading Up 1.3%

NYSE PINS opened at $25.85 on Wednesday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The company has a market cap of $17.46 billion, a PE ratio of 8.97, a PEG ratio of 1.55 and a beta of 0.96. The stock’s 50-day moving average price is $32.11 and its two-hundred day moving average price is $33.94.

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 for the quarter. Research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.