Pinterest, Inc. (NYSE:PINS) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 86.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 320,502 shares of the company’s stock after buying an additional 148,578 shares during the quarter. AQR Capital Management LLC’s holdings in Pinterest were worth $14,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Leibman Financial Services Inc. boosted its position in shares of Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after acquiring an additional 266 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after purchasing an additional 319 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after buying an additional 372 shares during the period. Cornercap Investment Counsel Inc. increased its holdings in shares of Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after buying an additional 373 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of Pinterest stock opened at $32.77 on Wednesday. The company’s fifty day moving average is $31.50 and its two-hundred day moving average is $36.62. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The company has a market capitalization of $22.38 billion, a P/E ratio of 155.38, a PEG ratio of 3.53 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. As a group, equities analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PINS shares. Morgan Stanley raised their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus decreased their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Roth Mkm decreased their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.25.

About Pinterest

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.