Cetera Investment Advisers Grows Holdings in Pinterest, Inc. (NYSE:PINS)

Cetera Investment Advisers grew its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 41.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,980 shares of the company's stock after buying an additional 25,233 shares during the period. Cetera Investment Advisers' holdings in Pinterest were worth $2,493,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in 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 purchasing an additional 4,527,902 shares in the last quarter. FMR LLC boosted its stake in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Norges Bank bought a new position in Pinterest in the 4th quarter worth about $358,205,000. Finally, Marshall Wace LLP boosted its stake in 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 purchasing an additional 6,129,985 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $31.97, for a total transaction of $36,765.50. Following the sale, the director now owns 25,636 shares in the company, valued at approximately $819,582.92. This represents a 4.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at $5,399,072.34. The trade was a 2.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 968,010 shares of company stock worth $31,760,067. 7.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PINS shares. Oppenheimer upped their price target on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Piper Sandler dropped their price target on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Barclays dropped their price target on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald upped their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, TD Cowen dropped their price target on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Price Performance

Shares of NYSE:PINS traded down $0.84 during mid-day trading on Friday, reaching $30.91. 8,527,708 shares of the company traded hands, compared to its average volume of 10,798,535. The company's 50 day moving average price is $28.74 and its 200-day moving average price is $31.23. The firm has a market cap of $20.96 billion, a PE ratio of 11.49, a PEG ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

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