Algert Global LLC Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Algert Global LLC lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 568.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,663 shares of the company's stock after buying an additional 91,564 shares during the quarter. Algert Global LLC's holdings in Pinterest were worth $3,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in Pinterest by 3.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 65,417 shares of the company's stock worth $1,897,000 after purchasing an additional 2,417 shares in the last quarter. 14B Captial Management LP grew its holdings in Pinterest by 73.6% in the fourth quarter. 14B Captial Management LP now owns 729,000 shares of the company's stock valued at $21,141,000 after purchasing an additional 309,000 shares during the period. Bienville Capital Management LLC purchased a new stake in shares of Pinterest in the fourth quarter valued at approximately $14,973,000. Finally, Meiji Yasuda Life Insurance Co raised its stake in shares of Pinterest by 8.8% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 44,315 shares of the company's stock worth $1,285,000 after buying an additional 3,600 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PINS shares. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. Barclays raised their target price on Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Guggenheim reiterated a "buy" rating on shares of Pinterest in a research report on Tuesday, April 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.31.

Insider Transactions at Pinterest

In other Pinterest 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 value of $1,717,179.30. Following the sale, the director now directly owns 1,156,693 shares of the company's stock, valued at approximately $39,304,428.14. This represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now owns 6,274 shares of the company's stock, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 453,836 shares of company stock valued at $14,828,392. 7.11% of the stock is currently owned by company insiders.

Pinterest Price Performance

Shares of NYSE:PINS opened at $27.41 on Thursday. The firm has a market capitalization of $18.59 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19. The firm's 50-day moving average is $29.11 and its two-hundred day moving average is $31.26.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. Analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.

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