Metavasi Capital LP Purchases New Shares in Pinterest, Inc. $PINS

Metavasi Capital LP acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 230,000 shares of the company’s stock, valued at approximately $8,248,000. Pinterest accounts for 3.4% of Metavasi Capital LP’s holdings, making the stock its 12th largest holding.

A number of other institutional investors also recently modified their holdings of PINS. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Pinterest by 4.4% during the second quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock worth $604,673,000 after purchasing an additional 718,105 shares during the period. Ameriprise Financial Inc. raised its position in shares of Pinterest by 13.7% in the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock valued at $480,452,000 after buying an additional 1,862,654 shares in the last quarter. Amundi boosted its stake in shares of Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after buying an additional 12,271,958 shares during the period. Finally, State Street Corp grew its position in Pinterest by 3.8% during the second quarter. State Street Corp now owns 13,855,047 shares of the company’s stock worth $496,842,000 after buying an additional 504,281 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Capital dropped their price objective on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinterest in a research report on Monday. Wedbush downgraded shares of Pinterest from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $30.00 in a research note on Monday. Benchmark dropped their target price on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada reduced their price target on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $38.97.

Pinterest Stock Performance

PINS stock opened at $26.88 on Friday. The company has a market capitalization of $18.16 billion, a P/E ratio of 9.33, a PEG ratio of 1.76 and a beta of 0.89. The company has a fifty day moving average price of $29.32 and a 200-day moving average price of $33.37. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares in the company, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale is available in the SEC filing. Insiders sold 301,042 shares of company stock worth $10,087,667 over the last ninety days. 7.06% of the stock is owned by insiders.

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.