King Luther Capital Management Corp Decreases Stake in Pinterest, Inc. (NYSE:PINS)

King Luther Capital Management Corp decreased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,020 shares of the company’s stock after selling 22,220 shares during the period. King Luther Capital Management Corp owned about 0.05% of Pinterest worth $13,224,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $241,229,000. Fred Alger Management LLC increased its stake in shares of Pinterest by 279,496.9% during the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after acquiring an additional 4,670,394 shares during the period. Ameriprise Financial Inc. boosted its holdings in Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after buying an additional 3,390,924 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after buying an additional 2,548,925 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Pinterest by 26.0% during the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock worth $184,357,000 after buying an additional 1,407,793 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Susquehanna increased their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Piper Sandler boosted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wedbush lifted their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup upped their target price on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.26.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,405 shares of company stock worth $5,855,142. Corporate insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock traded down $0.16 during trading hours on Wednesday, reaching $41.35. 2,786,276 shares of the company were exchanged, compared to its average volume of 10,073,070. Pinterest, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $43.12. The stock’s fifty day moving average is $36.37 and its two-hundred day moving average is $35.88. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 197.25, a P/E/G ratio of 4.25 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. On average, research analysts anticipate that Pinterest, Inc. will post 0.43 earnings per share 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.