Katamaran Capital LLP Buys New Position in Pinterest, Inc. (NYSE:PINS)

Katamaran Capital LLP purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 37,224 shares of the company’s stock, valued at approximately $1,079,000. Pinterest comprises 1.4% of Katamaran Capital LLP’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PINS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after purchasing an additional 342 shares in the last quarter. Ethos Financial Group LLC lifted its stake in Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after buying an additional 350 shares during the period. Amalgamated Bank boosted its holdings in shares of Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after buying an additional 372 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Pinterest by 63.5% during the 4th 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 period. Finally, Steph & Co. increased its stake in shares of Pinterest by 6.4% in the 4th quarter. Steph & Co. now owns 7,048 shares of the company’s stock valued at $204,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the sale, the director now directly owns 6,274 shares in the company, valued at approximately $196,187.98. This represents a 94.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is owned by company insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $25.78 on Friday. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $24.91 and a 52 week high of $45.19. The firm’s 50-day simple moving average is $34.40 and its two-hundred day simple moving average is $32.38.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Oppenheimer raised their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Guggenheim restated a “buy” rating on shares of Pinterest in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Cantor Fitzgerald raised their price objective on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

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.