King Luther Capital Management Corp Has $6.09 Million Holdings in Pinterest, Inc. (NYSE:PINS)

King Luther Capital Management Corp decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,140 shares of the company’s stock after selling 54,457 shares during the quarter. King Luther Capital Management Corp’s holdings in Pinterest were worth $6,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clare Market Investments LLC acquired a new position in shares of Pinterest during the 4th quarter worth $252,000. Independent Advisor Alliance raised its stake in shares of Pinterest by 26.3% during the fourth quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock valued at $317,000 after acquiring an additional 2,274 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Pinterest by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock worth $1,900,000 after buying an additional 1,335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Pinterest by 167.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,899 shares of the company’s stock valued at $9,625,000 after acquiring an additional 207,917 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in Pinterest by 223.7% during the fourth quarter. AlphaQuest LLC now owns 31,706 shares of the company’s stock worth $919,000 after buying an additional 21,910 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PINS has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Oppenheimer boosted their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, February 7th. Roth Capital set a $32.00 target price on shares of Pinterest in a research note on Monday, February 3rd. Finally, Guggenheim raised their price target on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Pinterest Trading Down 1.1 %

Shares of Pinterest stock opened at $31.41 on Wednesday. The business has a fifty day simple moving average of $34.23 and a two-hundred day simple moving average of $32.27. The firm has a market capitalization of $21.31 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,879 shares of company stock valued at $3,653,577. 7.11% of the stock is currently owned by corporate insiders.

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.