Guggenheim Capital LLC Reduces Stock Position in Pinterest, Inc. (NYSE:PINS)


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Guggenheim Capital LLC lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 50.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,585 shares of the company’s stock after selling 17,803 shares during the quarter. Guggenheim Capital LLC’s holdings in Pinterest were worth $1,159,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PINS. Joseph P. Lucia & Associates LLC purchased a new position in Pinterest in the fourth quarter valued at $26,000. Regal Wealth Group Inc. purchased a new position in Pinterest in the fourth quarter valued at $28,000. Independence Bank of Kentucky purchased a new position in Pinterest in the fourth quarter valued at $28,000. Baillie Gifford & Co. purchased a new position in Pinterest in the fourth quarter valued at $28,000. Finally, Perigon Wealth Management LLC purchased a new position in Pinterest in the fourth quarter valued at $29,000. 58.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PINS opened at $83.80 on Thursday. Pinterest, Inc. has a 52 week low of $15.82 and a 52 week high of $89.90. The company has a market cap of $52.67 billion, a P/E ratio of -130.94 and a beta of 1.40. The company has a 50-day moving average price of $75.46 and a 200 day moving average price of $66.08.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.47. Pinterest had a negative net margin of 26.81% and a negative return on equity of 14.42%. The company had revenue of $705.62 million during the quarter, compared to analysts’ expectations of $645.75 million. As a group, analysts predict that Pinterest, Inc. will post -0.41 earnings per share for the current fiscal year.

In other Pinterest news, CFO Todd R. Morgenfeld sold 53,302 shares of the stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $68.45, for a total value of $3,648,521.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey D. Jordan sold 16,000 shares of the stock in a transaction dated Wednesday, March 31st. The shares were sold at an average price of $70.31, for a total transaction of $1,124,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,002,667 shares of company stock valued at $75,881,056.

PINS has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Pinterest to $82.00 and gave the company an “overweight” rating in a report on Wednesday, December 16th. They noted that the move was a valuation call. Evercore ISI assumed coverage on shares of Pinterest in a research note on Monday. They issued an “outperform” rating and a $97.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Pinterest from $86.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, February 5th. Wells Fargo & Company upped their price objective on shares of Pinterest from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Finally, Credit Suisse Group upped their price objective on shares of Pinterest from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, February 1st. Eleven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $76.86.

About Pinterest

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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