Pinterest, Inc. (NYSE:PINS) is Bronte Capital Management Pty Ltd.’s 7th Largest Position

Bronte Capital Management Pty Ltd. reduced its stake in Pinterest, Inc. (NYSE:PINS) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,350,583 shares of the company’s stock after selling 54,415 shares during the period. Pinterest makes up approximately 4.9% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 7th biggest position. Bronte Capital Management Pty Ltd. owned about 0.20% of Pinterest worth $59,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Leibman Financial Services Inc. boosted its position in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares during the period. Legacy Capital Group California Inc. lifted its stake in Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after acquiring an additional 267 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Pinterest by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after acquiring an additional 319 shares during the period. Quadrant Capital Group LLC grew its position in Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after acquiring an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PINS shares. Wells Fargo & Company lowered their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Cantor Fitzgerald started coverage on Pinterest in a research report on Thursday, September 5th. They set an “overweight” rating and a $41.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Citigroup reduced their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.65.

Pinterest Stock Up 0.5 %

Shares of NYSE PINS opened at $29.41 on Tuesday. The stock has a market cap of $20.18 billion, a PE ratio of 140.05, a price-to-earnings-growth ratio of 3.26 and a beta of 1.00. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The business has a 50-day moving average price of $34.99 and a 200 day moving average price of $37.15.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) earnings per share. Sell-side analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the transaction, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at $8,410,770. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Insiders sold a total of 36,689 shares of company stock worth $1,628,002 in the last 90 days. Company insiders own 7.11% of the company’s stock.

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.