Envestnet Asset Management Inc. Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

Envestnet Asset Management Inc. raised its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 617,569 shares of the company's stock after acquiring an additional 12,500 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Pinterest worth $17,910,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its holdings in shares of Pinterest by 42.2% during the third quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company's stock worth $3,733,000 after buying an additional 36,925 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Pinterest in the 3rd quarter worth about $87,000. GAMMA Investing LLC raised its stake in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Pinterest in the 4th quarter valued at about $520,000. Finally, Nordea Investment Management AB increased its holdings in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the transaction, the insider now owns 254,211 shares of the company's stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value 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 $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 452,686 shares of company stock worth $14,797,342. Insiders own 7.11% of the company's stock.

Pinterest Stock Down 1.1 %

PINS traded down $0.29 during midday trading on Friday, hitting $25.17. The company had a trading volume of 8,877,896 shares, compared to its average volume of 10,505,129. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99. The stock's 50 day moving average price is $32.25 and its 200 day moving average price is $31.91. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly 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 return on equity of 8.10% and a net margin of 51.07%. Research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PINS shares. Benchmark upgraded Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research note on Friday, February 7th. Guggenheim reiterated a "buy" rating on shares of Pinterest in a research note on Tuesday, April 1st. Jefferies Financial Group reissued a "hold" rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Piper Sandler cut their price target on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.55.

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.