Shellback Capital LP Sells 165,000 Shares of Pinterest, Inc. (NYSE:PINS)

Shellback Capital LP lessened its position in Pinterest, Inc. (NYSE:PINS) by 62.3% in the 2nd quarter, Holdings Channel reports. The firm owned 100,000 shares of the company’s stock after selling 165,000 shares during the period. Shellback Capital LP’s holdings in Pinterest were worth $4,407,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Pinterest by 10.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock valued at $8,586,000 after purchasing an additional 22,101 shares in the last quarter. Deltec Asset Management LLC bought a new stake in Pinterest in the first quarter valued at approximately $6,449,000. Russell Investments Group Ltd. increased its stake in Pinterest by 38.0% in the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Pinterest in the second quarter valued at approximately $5,045,000. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PINS. Wolfe Research began coverage on shares of Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Susquehanna reduced their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Roth Mkm reduced their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. UBS Group reduced their price target on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Pinterest in a report on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Pinterest Price Performance

Shares of PINS stock opened at $32.70 on Friday. The stock has a market cap of $22.34 billion, a P/E ratio of 155.71, a P/E/G ratio of 3.40 and a beta of 1.00. The company has a fifty day moving average price of $31.85 and a two-hundred day moving average price of $36.63. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data 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 company 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 company’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Pinterest 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.