AXQ Capital LP Purchases Shares of 48,571 Pinterest, Inc. $PINS

AXQ Capital LP purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 48,571 shares of the company’s stock, valued at approximately $1,258,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Envestnet Asset Management Inc. grew its holdings in shares of Pinterest by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock worth $33,333,000 after purchasing an additional 241,527 shares during the period. Yousif Capital Management LLC lifted its position in Pinterest by 2,298.3% during the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after acquiring an additional 177,449 shares in the last quarter. Peak Retirement Planning Inc. acquired a new position in Pinterest during the 3rd quarter worth approximately $1,850,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Pinterest by 114.7% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 231,964 shares of the company’s stock worth $7,462,000 after acquiring an additional 123,900 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in Pinterest during the 3rd quarter worth approximately $2,280,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $21.45 on Tuesday. The business’s 50 day moving average is $19.45 and its two-hundred day moving average is $21.89. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 1.08 and a beta of 0.93. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same period in the prior year, the company posted $0.23 EPS. Pinterest’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Pinterest from $17.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Oppenheimer boosted their price target on Pinterest from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 2nd. Evercore set a $27.00 price target on Pinterest in a research report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.40.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the transaction, the director directly owned 27,450 shares of the company’s stock, valued at $549,000. This represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 4,200 shares of company stock valued at $84,000. Corporate insiders own 8.09% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.