Perpetual Ltd Grows Position in Pinterest, Inc. (NYSE:PINS)

Perpetual Ltd raised its position in Pinterest, Inc. (NYSE:PINS) by 25.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,026 shares of the company’s stock after purchasing an additional 8,996 shares during the quarter. Perpetual Ltd’s holdings in Pinterest were worth $1,277,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC raised its holdings in shares of Pinterest by 211.3% in the fourth quarter. Diversify Advisory Services LLC now owns 66,106 shares of the company’s stock worth $2,027,000 after buying an additional 44,869 shares during the period. Merit Financial Group LLC bought a new stake in shares of Pinterest during the fourth quarter worth $363,000. Avanza Fonder AB purchased a new stake in shares of Pinterest during the fourth quarter valued at $2,389,000. Empirical Asset Management LLC bought a new position in shares of Pinterest in the fourth quarter worth about $693,000. Finally, Eagle Rock Investment Company LLC increased its position in shares of Pinterest by 6.0% during the fourth quarter. Eagle Rock Investment Company LLC now owns 68,498 shares of the company’s stock worth $1,986,000 after acquiring an additional 3,881 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

PINS has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research note on Monday, October 7th. Morgan Stanley increased their price objective on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Raymond James lowered their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.70.

Pinterest Stock Performance

Shares of Pinterest stock opened at $32.07 on Wednesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market cap of $21.68 billion, a P/E ratio of 106.91, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50-day simple moving average of $30.41 and a two-hundred day simple moving average of $32.24.

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.