164,660 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Harvey Capital Management Inc.

Harvey Capital Management Inc. acquired a new stake in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 164,660 shares of the company’s stock, valued at approximately $4,775,000. Pinterest makes up approximately 1.1% of Harvey Capital Management Inc.’s portfolio, making the stock its 28th biggest position.

A number of other hedge funds also recently made changes to their positions in the company. CWM LLC boosted its holdings in Pinterest by 91.5% in the third quarter. CWM LLC now owns 66,685 shares of the company’s stock valued at $2,159,000 after purchasing an additional 31,863 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Pinterest by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock valued at $136,000 after purchasing an additional 3,500 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Pinterest by 52.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock valued at $398,000 after buying an additional 4,223 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Pinterest during the third quarter worth approximately $173,000. Finally, Swedbank AB increased its stake in shares of Pinterest by 21.9% in the third quarter. Swedbank AB now owns 59,539 shares of the company’s stock worth $1,927,000 after buying an additional 10,703 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PINS. Roth Mkm decreased their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Wells Fargo & Company lifted their price target on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Barclays boosted their price objective on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada increased their target price on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares in the company, valued at $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 over the last three months. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $39.64 on Wednesday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market capitalization of $26.79 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The firm has a 50 day simple moving average of $31.61 and a 200-day simple moving average of $31.46.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, analysts forecast that Pinterest, Inc. will post 0.59 earnings per share for the current fiscal year.

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.