9,000 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Cache Advisors LLC

Cache Advisors LLC bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,000 shares of the company's stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Norges Bank bought a new stake in Pinterest during the 4th quarter valued at $358,205,000. Marshall Wace LLP lifted its holdings in shares of Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after buying an additional 6,129,985 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC bought a new stake in shares of Pinterest in the fourth quarter valued at about $86,330,000. 88.81% of the stock is currently owned by institutional investors.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,941 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.75, for a total transaction of $140,890.75. Following the completion of the sale, the chief accounting officer now owns 144,129 shares of the company's stock, valued at $5,152,611.75. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the sale, the director now owns 26,786 shares of the company's stock, valued at approximately $723,222. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 964,343 shares of company stock worth $31,622,701 in the last 90 days. Corporate insiders own 7.06% of the company's stock.

Pinterest Price Performance

NYSE:PINS traded down $0.01 during trading hours on Wednesday, reaching $31.48. The company had a trading volume of 8,387,936 shares, compared to its average volume of 10,812,396. The firm has a market cap of $21.35 billion, a PE ratio of 11.70, 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 business's 50 day moving average price is $28.72 and its 200-day moving average price is $31.19.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The business's revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PINS shares. The Goldman Sachs Group dropped their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Benchmark dropped their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Bank of America reduced their target price on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Citigroup raised their price target on shares of Pinterest from $38.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Piper Sandler cut their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average price target of $40.26.

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.