JAT Capital Mgmt LP Has $390,000 Stock Position in Pinterest, Inc. (NYSE:PINS)

JAT Capital Mgmt LP decreased its position in Pinterest, Inc. (NYSE:PINS) by 98.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,462 shares of the company’s stock after selling 688,038 shares during the quarter. JAT Capital Mgmt LP’s holdings in Pinterest were worth $390,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Pinterest during the third quarter worth approximately $87,000. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the last quarter. Everence Capital Management Inc. bought a new position in Pinterest in the fourth quarter worth $520,000. Nordea Investment Management AB boosted its stake in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares in the last quarter. Finally, Graypoint LLC acquired a new stake in Pinterest during the fourth quarter worth $317,000. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada boosted their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Piper Sandler dropped their target price on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus dropped their price target on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.10.

Pinterest Stock Up 0.4 %

Shares of Pinterest stock opened at $26.27 on Wednesday. The company has a 50 day moving average price of $30.35 and a 200 day moving average price of $31.53. The firm has a market capitalization of $17.82 billion, a P/E ratio of 9.77, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

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, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, 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 transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now owns 26,786 shares of the company’s stock, valued at approximately $723,222. This represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock valued at $14,828,392 over the last ninety days. Company insiders own 7.11% of the company’s stock.

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.