Advisors Asset Management Inc. Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

Advisors Asset Management Inc. increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 434,027 shares of the company’s stock after acquiring an additional 12,702 shares during the period. Advisors Asset Management Inc. owned approximately 0.06% of Pinterest worth $12,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PINS. State Street Corp raised its position in shares of Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares in the last quarter. Geode Capital Management LLC grew its stake in Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after buying an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board grew 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 worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Ninety One UK Ltd grew its stake in Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after buying an additional 278,362 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Pinterest during the 3rd quarter worth $153,829,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Stock Performance

Shares of NYSE PINS opened at $32.03 on Tuesday. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.95 and a beta of 1.02. The business’s 50-day simple moving average is $34.34 and its 200-day simple moving average is $32.29. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week 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 the consensus estimate 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, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PINS. Wedbush upped their price objective on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. TD Cowen assumed coverage on Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective for the company. Oppenheimer increased their price target on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. 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. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s 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 completion of the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,879 shares of company stock valued at $3,653,577 in the last 90 days. 7.11% of the stock is owned by corporate insiders.

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.