Suvretta Capital Management LLC Buys 67,160 Shares of Pinterest, Inc. $PINS

Suvretta Capital Management LLC raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 15.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 497,185 shares of the company’s stock after acquiring an additional 67,160 shares during the period. Suvretta Capital Management LLC’s holdings in Pinterest were worth $15,994,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Pinterest in the second quarter valued at about $477,853,000. Balyasny Asset Management L.P. grew its position in Pinterest by 1,138.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after purchasing an additional 4,230,125 shares in the last quarter. Victory Capital Management Inc. increased its stake in Pinterest by 18.5% in the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock valued at $685,899,000 after buying an additional 3,213,241 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pinterest by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock worth $1,961,933,000 after buying an additional 3,044,674 shares in the last quarter. Finally, Erste Asset Management GmbH boosted its stake in shares of Pinterest by 33,818.9% in the 3rd quarter. Erste Asset Management GmbH now owns 2,510,000 shares of the company’s stock worth $83,633,000 after buying an additional 2,502,600 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PINS shares. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Zacks Research raised Pinterest from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft cut Pinterest from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Friday, February 13th. Stifel Nicolaus reduced their price target on shares of Pinterest from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Citigroup downgraded shares of Pinterest from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $19.00 in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.87.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Malik Ducard sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the transaction, the insider directly owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,457 shares of company stock valued at $876,925 in the last quarter. Company insiders own 7.06% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $18.20 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The stock’s fifty day moving average price is $21.34 and its two-hundred day moving average price is $27.37. The firm has a market cap of $12.11 billion, a PE ratio of 29.84, a PEG ratio of 1.20 and a beta of 0.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.