Eagle Asset Management Inc. Purchases 1,003,993 Shares of Pinterest, Inc. (NYSE:PINS)

Eagle Asset Management Inc. raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 590.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,174,056 shares of the company's stock after buying an additional 1,003,993 shares during the period. Eagle Asset Management Inc. owned 0.17% of Pinterest worth $38,004,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kornitzer Capital Management Inc. KS boosted its position in Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company's stock worth $13,087,000 after purchasing an additional 68,096 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock worth $192,423,000 after purchasing an additional 460,708 shares during the period. GDS Wealth Management purchased a new position in Pinterest in the third quarter valued at approximately $2,517,000. Ontario Teachers Pension Plan Board grew its holdings in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Pinterest by 16.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,963,645 shares of the company's stock worth $63,563,000 after purchasing an additional 273,855 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

NYSE:PINS traded up $0.71 during trading hours on Friday, hitting $30.02. The company had a trading volume of 14,762,200 shares, compared to its average volume of 12,530,637. The stock has a 50-day moving average price of $31.73 and a 200 day moving average price of $35.85. The company has a market capitalization of $20.29 billion, a PE ratio of 100.04, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PINS shares. Susquehanna cut their price objective on shares of Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company cut their price target on shares of Pinterest from $49.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Roth Mkm decreased their price target on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. KeyCorp dropped their price objective on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research note on Monday, September 23rd. They issued a "buy" rating and a $43.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares of the company's stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,580 shares of company stock worth $1,063,499 over the last 90 days. 7.11% of the stock is owned by company insiders.

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.