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

Discovery Capital Management LLC CT purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 269,600 shares of the company’s stock, valued at approximately $7,818,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Pinterest in the 4th quarter valued at $358,205,000. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest in the third quarter valued at approximately $153,829,000. Schroder Investment Management Group raised its position in Pinterest by 357.5% in the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock worth $79,269,000 after acquiring an additional 2,125,010 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Pinterest in the fourth quarter valued at $61,261,000. Finally, Nordea Investment Management AB boosted its position 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 purchasing an additional 2,093,248 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PINS has been the topic of several research analyst reports. Raymond James boosted their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp decreased their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Rosenblatt Securities raised their target price on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays increased their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald upped their target price on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Pinterest Stock Performance

PINS stock opened at $31.01 on Tuesday. The stock’s fifty day moving average is $34.67 and its two-hundred day moving average is $32.42. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

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

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 12,253 shares of Pinterest stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total value of $395,036.72. Following the transaction, the insider now owns 228,510 shares of the company’s stock, valued at $7,367,162.40. The trade was a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,753 shares of company stock valued at $11,640,201. Company insiders own 7.11% of the company’s stock.

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.