Qsemble Capital Management LP Raises Stock Position in Pinterest, Inc. (NYSE:PINS)

Qsemble Capital Management LP raised its stake in Pinterest, Inc. (NYSE:PINS) by 136.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,760 shares of the company’s stock after buying an additional 34,467 shares during the period. Qsemble Capital Management LP’s holdings in Pinterest were worth $2,634,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new position in shares of Pinterest during the 4th quarter worth approximately $367,000. Principal Securities Inc. purchased a new position in shares of Pinterest during the 4th quarter worth approximately $54,000. QRG Capital Management Inc. increased its stake in shares of Pinterest by 14.9% during the 4th quarter. QRG Capital Management Inc. now owns 72,758 shares of the company’s stock worth $2,695,000 after purchasing an additional 9,427 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Pinterest by 13.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,053 shares of the company’s stock worth $632,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in shares of Pinterest by 497.6% during the 4th quarter. Westpac Banking Corp now owns 6,269 shares of the company’s stock worth $232,000 after purchasing an additional 5,220 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PINS. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price objective on shares of Pinterest in a research note on Wednesday, July 31st. UBS Group decreased their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Citigroup decreased their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company decreased their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.65.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction 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 sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Pinterest Trading Up 0.3 %

NYSE:PINS opened at $29.22 on Thursday. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 139.15, a PEG ratio of 3.26 and a beta of 1.00. The firm’s fifty day simple moving average is $34.43 and its 200 day simple moving average is $37.06.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (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 firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Pinterest 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.