Point72 DIFC Ltd Makes New $1 Million Investment in Pinterest, Inc. (NYSE:PINS)

Point72 DIFC Ltd acquired a new position in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 22,695 shares of the company’s stock, valued at approximately $1,000,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PINS. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest in the 2nd quarter worth $26,000. Hexagon Capital Partners LLC increased its position in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares in the last quarter. Rothschild Investment LLC acquired a new position in Pinterest in the 2nd quarter worth approximately $35,000. Finally, Quent Capital LLC grew its position in Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price target on shares of Pinterest in a report on Wednesday, July 31st. Roth Mkm lowered their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. UBS Group dropped their price objective on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Susquehanna lowered their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $42.87.

Pinterest Trading Up 3.9 %

PINS opened at $31.66 on Wednesday. The stock’s 50 day simple moving average is $32.18 and its 200-day simple moving average is $36.68. The stock has a market cap of $21.73 billion, a PE ratio of 150.77, a P/E/G ratio of 3.40 and a beta of 1.00. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19.

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

Pinterest Company 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.