Los Angeles Capital Management LLC Acquires 127,151 Shares of Pinterest, Inc. (NYSE:PINS)

Los Angeles Capital Management LLC increased its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 101.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,032 shares of the company's stock after acquiring an additional 127,151 shares during the period. Los Angeles Capital Management LLC's holdings in Pinterest were worth $7,813,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Revolve Wealth Partners LLC purchased a new position in Pinterest in the fourth quarter valued at approximately $252,000. Royal London Asset Management Ltd. lifted its stake in Pinterest by 5.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 293,402 shares of the company's stock valued at $8,509,000 after purchasing an additional 14,942 shares during the last quarter. Virtu Financial LLC purchased a new position in Pinterest in the fourth quarter valued at approximately $554,000. KLP Kapitalforvaltning AS purchased a new position in Pinterest in the fourth quarter valued at approximately $11,029,000. Finally, LPL Financial LLC lifted its stake in Pinterest by 3.6% in the fourth quarter. LPL Financial LLC now owns 438,427 shares of the company's stock valued at $12,714,000 after purchasing an additional 15,164 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the transaction, the director directly owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,381,678 shares of company stock worth $46,988,343 over the last quarter. 7.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on PINS. Piper Sandler dropped their target price on Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $37.00 to $45.00 in a research report on Monday. BMO Capital Markets dropped their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a research report on Thursday, May 15th. Finally, Stifel Nicolaus dropped their target price on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.45.

Pinterest Stock Up 2.3%

PINS opened at $37.98 on Tuesday. The stock has a market cap of $25.76 billion, a PE ratio of 13.86, a P/E/G ratio of 1.83 and a beta of 0.94. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $42.02. The business's fifty day simple moving average is $34.23 and its 200 day simple moving average is $32.44.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period in the prior year, the company earned $0.17 EPS. The firm's revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.