King Luther Capital Management Corp Sells 54,457 Shares of Pinterest, Inc. (NYSE:PINS)

King Luther Capital Management Corp decreased its stake in Pinterest, Inc. (NYSE:PINS) by 20.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,140 shares of the company’s stock after selling 54,457 shares during the quarter. King Luther Capital Management Corp’s holdings in Pinterest were worth $6,094,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Whipplewood Advisors LLC bought a new stake in shares of Pinterest in the 4th quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares in the last quarter. True Wealth Design LLC increased its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Trading Down 1.1 %

NYSE PINS opened at $31.41 on Wednesday. The company has a market cap of $21.31 billion, a PE ratio of 11.68, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a 50 day moving average of $34.23 and a 200-day moving average of $32.27.

Pinterest (NYSE:PINS) last released 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%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PINS has been the topic of several research analyst reports. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Barclays boosted their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Roth Capital set a $32.00 price objective on Pinterest in a report on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their target price on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.47.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,879 shares of company stock worth $3,653,577. 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.