Empirical Capital Management LLC Has $11.81 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Empirical Capital Management LLC boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 268,024 shares of the company’s stock after acquiring an additional 3,074 shares during the quarter. Pinterest comprises about 8.4% of Empirical Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Empirical Capital Management LLC’s holdings in Pinterest were worth $11,812,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest in the 2nd quarter worth $26,000. Hexagon Capital Partners LLC increased its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC raised its holdings in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the period. Rothschild Investment LLC acquired a new position in shares of Pinterest in the second quarter worth about $35,000. Finally, Quent Capital LLC boosted its holdings in shares of Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 0.7 %

Shares of Pinterest stock opened at $32.49 on Friday. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The stock has a 50 day moving average price of $31.85 and a two-hundred day moving average price of $36.63. The stock has a market capitalization of $22.20 billion, a P/E ratio of 154.71, a PEG ratio of 3.40 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup reduced their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Morgan Stanley lifted their price target on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Barclays reduced their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Eight equities 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.25.

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.