Vident Advisory LLC Increases Stake in Pinterest, Inc. (NYSE:PINS)

Vident Advisory LLC raised its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,771 shares of the company's stock after purchasing an additional 9,208 shares during the quarter. Vident Advisory LLC's holdings in Pinterest were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 104.3% in 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 purchasing an additional 12,986,310 shares during the period. Norges Bank bought a new position in Pinterest in the 4th quarter valued at $358,205,000. Marshall Wace LLP grew 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 valued at $310,352,000 after purchasing an additional 6,129,985 shares during the period. Ameriprise Financial Inc. grew 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 valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC bought a new position in Pinterest in the 4th quarter valued at $86,330,000. Institutional investors own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Pinterest from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Morgan Stanley increased their price target on Pinterest from $28.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Stifel Nicolaus cut their price target on Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Rosenblatt Securities increased their price target on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Trading Up 1.8%

Shares of PINS traded up $0.55 during trading hours on Tuesday, reaching $31.45. 3,036,510 shares of the company's stock traded hands, compared to its average volume of 12,956,997. The stock has a market cap of $21.33 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The firm's 50 day simple moving average is $28.72 and its 200-day simple moving average is $31.19. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business's revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. As a group, analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,941 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.75, for a total transaction of $140,890.75. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at approximately $5,152,611.75. This trade represents a 2.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 964,343 shares of company stock valued at $31,622,701. Corporate insiders own 7.06% of the company's stock.

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.