Magnetar Financial LLC Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

Magnetar Financial LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,367 shares of the company’s stock, valued at approximately $983,000.

Several other hedge funds also recently bought and sold shares of PINS. Legacy Capital Group California Inc. grew its stake in Pinterest by 1.7% in the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after buying an additional 267 shares in the last quarter. Venture Visionary Partners LLC grew its stake in Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after buying an additional 324 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after buying an additional 378 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Pinterest by 17.7% in the 4th quarter. Allworth Financial LP now owns 2,856 shares of the company’s stock worth $106,000 after buying an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares in the company, valued at approximately $8,317,733. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the sale, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 in the last quarter. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Down 0.9 %

Shares of NYSE PINS traded down $0.33 during trading on Friday, reaching $37.55. 10,960,656 shares of the company traded hands, compared to its average volume of 6,675,600. The firm has a 50 day simple moving average of $42.30 and a 200-day simple moving average of $38.53. The stock has a market capitalization of $25.65 billion, a PE ratio of 178.82, a P/E/G ratio of 3.66 and a beta of 0.97. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, research analysts predict that Pinterest, Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Pinterest from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Wolfe Research assumed coverage on shares of Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Loop Capital upped their price objective on shares of Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 price objective on shares of Pinterest in a research note on Friday, June 14th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Pinterest in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.60.

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.