Caxton Associates LP Sells 104,941 Shares of Pinterest, Inc. (NYSE:PINS)

Caxton Associates LP lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 93.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,477 shares of the company’s stock after selling 104,941 shares during the quarter. Caxton Associates LP’s holdings in Pinterest were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Pinterest during the 2nd quarter valued at approximately $967,000. Toronto Dominion Bank raised its stake in Pinterest by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Pinterest by 62.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 114,018 shares of the company’s stock valued at $5,025,000 after purchasing an additional 44,013 shares during the period. Point72 DIFC Ltd purchased a new position in Pinterest during the 2nd quarter valued at approximately $1,000,000. Finally, Interval Partners LP grew its holdings in Pinterest by 6,668.0% during the 2nd quarter. Interval Partners LP now owns 20,304 shares of the company’s stock valued at $895,000 after buying an additional 20,004 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Stifel Nicolaus cut their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Raymond James cut their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price target on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Pinterest Stock Down 0.7 %

Shares of Pinterest stock opened at $32.49 on Friday. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The company has a market capitalization of $22.20 billion, a PE ratio of 154.71, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The stock’s fifty day moving average is $31.85 and its two-hundred day moving average is $36.63.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current 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.