CastleKnight Management LP Has $7.68 Million Position in Pinterest, Inc. $PINS

CastleKnight Management LP reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 36.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,515 shares of the company’s stock after selling 171,100 shares during the period. CastleKnight Management LP’s holdings in Pinterest were worth $7,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Pinterest by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock worth $1,606,632,000 after purchasing an additional 1,069,646 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Pinterest by 15.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after acquiring an additional 3,669,476 shares during the period. Victory Capital Management Inc. increased its stake in Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after acquiring an additional 6,258,628 shares during the period. State Street Corp increased its stake in Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after acquiring an additional 7,412,213 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Pinterest by 10.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock worth $634,767,000 after acquiring an additional 1,913,668 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Guggenheim restated a “buy” rating and set a $24.00 price objective on shares of Pinterest in a research note on Monday. TD Cowen raised their price objective on Pinterest from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. raised their price objective on Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Piper Sandler restated a “neutral” rating and set a $26.00 price objective (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Evercore set a $27.00 price objective on Pinterest in a research note on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.40.

Insider Activity

In related news, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $21.15, for a total value of $991,406.25. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 171,112 shares of company stock worth $3,595,596. Insiders own 8.09% of the company’s stock.

Pinterest Trading Down 3.7%

Shares of PINS opened at $20.37 on Thursday. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The business’s fifty day moving average is $20.15 and its 200-day moving average is $21.51. 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 firm has a market cap of $11.41 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.21 and a beta of 0.92.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company posted $0.23 EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Pinterest 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.