Bronte Capital Management Pty Ltd. Raises Holdings in Pinterest, Inc. (NYSE:PINS)

Bronte Capital Management Pty Ltd. grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,414,696 shares of the company's stock after acquiring an additional 30,749 shares during the period. Pinterest comprises approximately 5.0% of Bronte Capital Management Pty Ltd.'s investment portfolio, making the stock its 6th biggest holding. Bronte Capital Management Pty Ltd. owned approximately 0.21% of Pinterest worth $52,400,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Fred Alger Management LLC raised its holdings in shares of Pinterest by 279,496.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company's stock valued at $126,286,000 after purchasing an additional 4,670,394 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 43.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company's stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the period. Clearbridge Investments LLC raised its position in shares of Pinterest by 26.0% in the 3rd quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company's stock worth $184,357,000 after acquiring an additional 1,407,793 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Pinterest by 2,666.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,420,258 shares of the company's stock worth $52,606,000 after purchasing an additional 1,368,927 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Pinterest in the third quarter valued at about $31,426,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Buying and Selling

In related news, insider Sabrina Ellis sold 24,410 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares of the company's stock, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares of the company's stock, valued at approximately $17,762,886.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 in the last ninety days. Company insiders own 7.11% of the company's stock.

Analyst Ratings Changes

PINS has been the subject of a number of research analyst reports. Evercore ISI increased their price target on Pinterest from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, January 26th. Royal Bank of Canada boosted their target price on shares of Pinterest from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Argus raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $45.00 price target for the company in a report on Thursday, January 18th. Stifel Nicolaus raised their target price on Pinterest from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. Finally, Citigroup boosted their price target on Pinterest from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.26.

Pinterest Stock Performance

Shares of NYSE PINS traded up $0.02 during mid-day trading on Thursday, reaching $42.66. 6,098,398 shares of the company's stock were exchanged, compared to its average volume of 10,186,194. The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 202.38, a PEG ratio of 4.02 and a beta of 0.99. Pinterest, Inc. has a 52-week low of $21.02 and a 52-week high of $42.85. The company's 50-day moving average is $35.16 and its 200-day moving average is $34.91.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, equities analysts predict that Pinterest, Inc. will post 0.43 earnings per share 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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