Worldquant Millennium Advisors LLC Buys 2,006,624 Shares of Pinterest, Inc. (NYSE:PINS)

Worldquant Millennium Advisors LLC lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 12,207.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,023,062 shares of the company's stock after purchasing an additional 2,006,624 shares during the period. Worldquant Millennium Advisors LLC owned 0.30% of Pinterest worth $58,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD lifted its holdings in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares in the last quarter. Norges Bank bought a new position in Pinterest during the fourth quarter worth about $358,205,000. Marshall Wace LLP lifted its holdings in Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after acquiring an additional 6,129,985 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Pinterest by 49.7% during 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 in the last quarter. 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.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wedbush restated an "outperform" rating and issued a $40.00 price target (up from $38.00) on shares of Pinterest in a report on Friday, May 9th. Oppenheimer boosted their price target on Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on Pinterest from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Cantor Fitzgerald boosted their price target on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus cut their price target on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $40.26.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now owns 29,086 shares of the company's stock, valued at approximately $1,139,880.34. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,667 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly 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. Over the last quarter, insiders have sold 862,168 shares of company stock valued at $28,368,681. 7.06% of the stock is owned by insiders.

Pinterest Stock Down 1.7%

Shares of NYSE PINS opened at $32.02 on Tuesday. The business's 50 day moving average price is $28.72 and its two-hundred day moving average price is $31.22. The company has a market cap of $21.72 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share 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 analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.

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