CAP Partners LLC Takes $255,000 Position in Pinterest, Inc. (NYSE:PINS)

CAP Partners LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,796 shares of the company’s stock, valued at approximately $255,000.

A number of other large investors also recently modified their holdings of PINS. Norges Bank bought a new stake in Pinterest in the fourth quarter worth $241,229,000. Wellington Management Group LLP boosted its stake in Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after buying an additional 5,524,796 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after buying an additional 3,134,776 shares during the last quarter. Franklin Resources Inc. raised its position in Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after purchasing an additional 2,548,925 shares during the period. Finally, Contour Asset Management LLC raised its position in Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after purchasing an additional 2,023,500 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. Insiders have sold 48,316 shares of company stock valued at $2,109,592 in the last three months. 7.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PINS. Loop Capital raised their price objective on Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 6th. The Goldman Sachs Group boosted their price objective on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Robert W. Baird reduced their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Raymond James reduced their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Barclays reduced their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $42.71.

Pinterest Stock Performance

NYSE:PINS traded up $0.34 during mid-day trading on Friday, reaching $31.01. 10,000,181 shares of the company’s stock were exchanged, compared to its average volume of 14,744,483. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The firm has a market capitalization of $21.28 billion, a PE ratio of 147.67, a price-to-earnings-growth ratio of 3.26 and a beta of 0.97. The business’s fifty day simple moving average is $39.00 and its two-hundred day simple moving average is $37.84.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same period last year, the company earned ($0.04) EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current 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.