Magnetar Financial LLC Sells 22,719 Shares of Pinterest, Inc. (NYSE:PINS)

Magnetar Financial LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 80.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,648 shares of the company’s stock after selling 22,719 shares during the period. Magnetar Financial LLC’s holdings in Pinterest were worth $249,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wellington Shields Capital Management LLC acquired a new stake in Pinterest during the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC increased its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% in the second 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 last quarter. Rothschild Investment LLC acquired a new position in Pinterest during the 2nd quarter worth about $35,000. Finally, International Assets Investment Management LLC bought a new stake in Pinterest during the 2nd quarter worth about $40,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $32.16 on Thursday. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The business has a 50 day simple moving average of $32.01 and a 200 day simple moving average of $36.66. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of 153.15, a PEG ratio of 3.40 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the business posted ($0.04) earnings per share. On average, analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PINS. Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Citigroup reduced their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Roth Mkm cut their price target on Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Raymond James lowered their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.87.

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.