Candriam S.C.A. Increases Position in Pinterest, Inc. (NYSE:PINS)

Candriam S.C.A. increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 20.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,557 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Candriam S.C.A.’s holdings in Pinterest were worth $1,176,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PINS. Point72 Asset Management L.P. bought a new stake in Pinterest during the third quarter valued at about $153,829,000. Southpoint Capital Advisors LP purchased a new stake in shares of Pinterest during the third quarter worth about $123,006,000. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. Raymond James Financial Inc. purchased a new position in Pinterest in the 4th quarter worth approximately $61,261,000. Finally, Nordea Investment Management AB boosted its stake in Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeremy S. Levine sold 50,535 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the transaction, the director now directly owns 1,156,693 shares in the company, valued at approximately $39,304,428.14. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s 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 $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,189 shares of company stock worth $3,433,811 in the last ninety days. 7.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PINS has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Rosenblatt Securities boosted their price target on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Raymond James raised their price objective on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Morgan Stanley lifted their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Pinterest Trading Down 0.4 %

NYSE PINS opened at $34.37 on Monday. The stock has a market cap of $23.31 billion, a PE ratio of 12.78, a PEG 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. The company’s 50-day moving average price is $34.13 and its 200-day moving average price is $32.27.

Pinterest (NYSE:PINS) last issued its 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 8.10% and a net margin of 51.07%. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current 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.