Advisors Asset Management Inc. Buys 12,702 Shares of Pinterest, Inc. (NYSE:PINS)

Advisors Asset Management Inc. boosted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,027 shares of the company's stock after acquiring an additional 12,702 shares during the period. Advisors Asset Management Inc. owned 0.06% of Pinterest worth $12,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Pinterest in the 3rd quarter worth about $153,829,000. Southpoint Capital Advisors LP purchased a new position in Pinterest in the 3rd quarter worth about $123,006,000. Ontario Teachers Pension Plan Board raised its position in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Pinterest in the 4th quarter worth about $61,261,000. Finally, Nordea Investment Management AB raised its position in Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock worth $111,515,000 after buying an additional 2,093,248 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

Shares of NYSE PINS traded up $1.03 during mid-day trading on Friday, hitting $32.45. 15,160,111 shares of the company's stock traded hands, compared to its average volume of 9,889,355. The company's 50-day moving average is $34.39 and its two-hundred day moving average is $32.27. The company has a market capitalization of $22.01 billion, a P/E ratio of 12.06, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

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Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PINS shares. Wells Fargo & Company boosted their price target on Pinterest from $39.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. TD Cowen started coverage on Pinterest in a research note on Tuesday, November 26th. They set a "buy" rating and a $38.00 price target for the company. Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Jefferies Financial Group restated a "hold" rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.30.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $195,497.84. This represents a 94.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 207,812 shares of company stock worth $6,798,857. Insiders own 7.11% of the company's stock.

Pinterest 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.