Seven Eight Capital LP cut its stake in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 89.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,523 shares of the company’s stock after selling 141,014 shares during the period. Seven Eight Capital LP’s holdings in Pinterest were worth $728,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Wellington Shields Capital Management LLC acquired a new stake in Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC boosted its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares during the period. GAMMA Investing LLC increased its position in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Pinterest during the second quarter valued at approximately $35,000. Finally, Quent Capital LLC lifted its position in shares of Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated 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 directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.11% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on PINS
Pinterest Stock Performance
Shares of PINS stock opened at $30.38 on Friday. The stock’s 50 day simple moving average is $32.58 and its 200 day simple moving average is $36.73. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 144.67, a PEG ratio of 3.22 and a beta of 1.00.
Pinterest (NYSE:PINS – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) earnings per share. On average, analysts forecast that Pinterest, Inc. will post 0.39 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.
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