Entropy Technologies LP Invests $375,000 in Pinterest, Inc. (NYSE:PINS)

Entropy Technologies LP bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,947 shares of the company’s stock, valued at approximately $375,000.

A number of other institutional investors also recently modified their holdings of the company. Maverick Capital Ltd. grew its holdings in Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after buying an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after purchasing an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after purchasing an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its stake in Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after purchasing an additional 68,096 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PINS shares. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Piper Sandler reiterated a “neutral” rating and set a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Raymond James increased their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Morgan Stanley increased their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Pinterest stock opened at $39.10 on Thursday. The stock has a fifty day moving average of $31.78 and a 200 day moving average of $31.47. The stock has a market cap of $26.42 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.59 EPS 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.