Discovery Capital Management LLC CT Takes $7.82 Million Position in Pinterest, Inc. (NYSE:PINS)

Discovery Capital Management LLC CT purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, HoldingsChannel reports. The fund purchased 269,600 shares of the company’s stock, valued at approximately $7,818,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Pinterest in the 4th quarter worth about $358,205,000. Point72 Asset Management L.P. bought a new position in shares of Pinterest during the 3rd quarter valued at $153,829,000. Schroder Investment Management Group increased its position in Pinterest by 357.5% during the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock worth $79,269,000 after buying an additional 2,125,010 shares during the last quarter. Raymond James Financial Inc. bought a new position in Pinterest during the fourth quarter valued at about $61,261,000. Finally, Nordea Investment Management AB boosted its stake in shares of Pinterest by 122.1% during the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $33.71, for a total transaction of $3,441,217.93. Following the completion of the sale, the director now directly owns 6,274 shares in the company, valued at $211,496.54. This represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock worth $11,640,201 in the last three months. 7.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Wedbush raised their price objective on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Oppenheimer lifted their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Cantor Fitzgerald lifted their target price on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Pinterest Trading Down 1.5 %

Shares of NYSE PINS opened at $31.01 on Tuesday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market capitalization of $21.03 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.95 and a beta of 1.02. The stock has a 50 day moving average of $34.67 and a 200-day moving average of $32.42.

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