Pinterest, Inc. (NYSE:PINS) Stake Boosted by CenterBook Partners LP

CenterBook Partners LP lifted its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 82.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,707 shares of the company's stock after acquiring an additional 37,843 shares during the quarter. CenterBook Partners LP's holdings in Pinterest were worth $2,428,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. APG Asset Management N.V. increased its position in Pinterest by 647.6% in the 4th quarter. APG Asset Management N.V. now owns 390,770 shares of the company's stock valued at $10,944,000 after acquiring an additional 338,500 shares in the last quarter. Abacus FCF Advisors LLC increased its holdings in shares of Pinterest by 98.5% in the fourth quarter. Abacus FCF Advisors LLC now owns 76,064 shares of the company's stock valued at $2,206,000 after purchasing an additional 37,748 shares in the last quarter. Renaissance Group LLC bought a new position in Pinterest in the 4th quarter worth approximately $23,894,000. Renaissance Technologies LLC acquired a new position in Pinterest during the 4th quarter worth $21,528,000. Finally, Shelton Capital Management bought a new position in Pinterest in the 4th quarter valued at $872,000. Institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley upped their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Roth Capital set a $32.00 target price on Pinterest in a report on Monday, February 3rd. Oppenheimer increased their price target on Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Monness Crespi & Hardt upgraded shares of Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.81.

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Pinterest Trading Up 0.4 %

NYSE:PINS traded up $0.10 during midday trading on Tuesday, reaching $25.95. The company had a trading volume of 4,564,656 shares, compared to its average volume of 10,410,858. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19. The stock's fifty day simple moving average is $33.27 and its 200-day simple moving average is $32.11. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (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%. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,667 shares of the company'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 completion of the sale, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. The trade was a 3.80 % 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 worth $14,832,336 in the last three months. Company insiders own 7.11% of the company's stock.

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.