Junto Capital Management LP Purchases Shares of 1,089,051 Pinterest, Inc. (NYSE:PINS)

Junto Capital Management LP acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,089,051 shares of the company's stock, valued at approximately $31,582,000. Junto Capital Management LP owned 0.16% of Pinterest as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 buying an additional 12,986,310 shares in the last quarter. Norges Bank acquired a new stake in Pinterest during the 4th quarter valued at $358,205,000. Marshall Wace LLP raised its position 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 last quarter. Ameriprise Financial Inc. boosted its stake in Pinterest by 49.7% in the fourth 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. Finally, Contour Asset Management LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at $86,330,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the completion of the sale, the director now owns 26,786 shares of the company's stock, valued at approximately $723,222. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,836 shares of company stock worth $14,828,392. Corporate insiders own 7.06% of the company's stock.

Wall Street Analyst Weigh In

PINS has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price objective 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. Piper Sandler decreased 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. BMO Capital Markets dropped their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Pinterest from $30.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Monness Crespi & Hardt lowered their price objective on Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $40.27.

Pinterest Stock Performance

NYSE PINS opened at $29.23 on Friday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The stock's 50 day moving average price is $28.84 and its two-hundred day moving average price is $31.21. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS - Get Free Report) last released its 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). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period last year, the business posted $0.17 EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

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.

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