Pinebridge Investments L.P. Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

Pinebridge Investments L.P. raised its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 162.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,742 shares of the company's stock after buying an additional 47,539 shares during the period. Pinebridge Investments L.P.'s holdings in Pinterest were worth $2,226,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Leibman Financial Services Inc. boosted its stake in Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock valued at $1,862,000 after acquiring an additional 32,464 shares in the last quarter. Janney Capital Management LLC acquired a new position in Pinterest during the fourth quarter worth approximately $4,289,000. Jones Financial Companies Lllp lifted its stake in Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock valued at $725,000 after buying an additional 11,925 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $520,000. Finally, Swedbank AB grew its position in shares of Pinterest by 2,108.7% during the fourth quarter. Swedbank AB now owns 1,315,052 shares of the company's stock worth $38,137,000 after acquiring an additional 1,255,513 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now owns 26,786 shares in the company, valued at approximately $723,222. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock valued at $14,828,392 over the last quarter. Company insiders own 7.11% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PINS. UBS Group lowered their price objective on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Morgan Stanley lowered their target price on Pinterest from $42.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada upped their price target on Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Citigroup dropped their price objective on shares of Pinterest from $47.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Roth Capital set a $32.00 target price on shares of Pinterest in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.10.

Pinterest Stock Performance

Pinterest stock traded up $0.18 during trading on Thursday, hitting $25.50. The company's stock had a trading volume of 11,558,102 shares, compared to its average volume of 10,549,723. The stock's fifty day moving average is $30.10 and its 200 day moving average is $31.49. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, 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.