CastleKnight Management LP Sells 171,100 Shares of Pinterest, Inc. $PINS

CastleKnight Management LP lowered its position in shares of Pinterest, Inc. (NYSE:PINS) by 36.6% during the fourth quarter, HoldingsChannel reports. The fund owned 296,515 shares of the company’s stock after selling 171,100 shares during the quarter. CastleKnight Management LP’s holdings in Pinterest were worth $7,677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevated Capital Advisors LLC bought a new stake in Pinterest during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its position in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after acquiring an additional 1,049 shares during the last quarter. Addison Advisors LLC grew its position in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new stake in Pinterest during the 4th quarter worth $36,000. Finally, Fifth Third Bancorp grew its position in Pinterest by 2,409.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after acquiring an additional 1,325 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 3.7%

PINS stock opened at $20.37 on Thursday. The stock’s 50 day simple moving average is $20.15 and its 200 day simple moving average is $21.51. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The company has a market cap of $11.41 billion, a P/E ratio of 42.43, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same period in the prior year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, research analysts expect that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Benchmark reduced their price target on Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Evercore set a $27.00 price target on Pinterest in a research report on Tuesday, May 5th. Wells Fargo & Company upped their price target on Pinterest from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Oppenheimer upped their price target on Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.40.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $21.15, for a total transaction of $991,406.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 in the company, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 171,112 shares of company stock valued at $3,595,596. 8.09% of the stock is owned by company insiders.

Pinterest Company Profile

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.