Katamaran Capital LLP Makes New $1.08 Million Investment in Pinterest, Inc. (NYSE:PINS)

Katamaran Capital LLP purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 37,224 shares of the company’s stock, valued at approximately $1,079,000. Pinterest makes up 1.4% of Katamaran Capital LLP’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in Pinterest during the fourth quarter valued at $28,000. GAMMA Investing LLC boosted its position in shares of Pinterest by 63.5% during the 4th 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. V Square Quantitative Management LLC grew its holdings in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares in the last quarter. Huntington National Bank increased its position in shares of Pinterest by 484.1% in the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock worth $59,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in Pinterest by 17,692.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $196,187.98. The trade was a 94.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 in the last quarter. 7.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PINS. KeyCorp cut their price target on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Wedbush upped their target price on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, January 10th. Morgan Stanley upped their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised their price objective on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Pinterest Trading Down 6.3 %

Shares of NYSE PINS opened at $25.78 on Friday. The firm has a fifty day simple moving average of $34.40 and a two-hundred day simple moving average of $32.38. Pinterest, Inc. has a 12 month low of $24.91 and a 12 month high of $45.19. The firm has a market capitalization of $17.49 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings data 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 return on equity of 8.10% and a net margin of 51.07%. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.