Fmr LLC Buys 316,633 Shares of Pinterest, Inc. (NYSE:PINS)

FMR LLC raised its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,599,356 shares of the company's stock after purchasing an additional 316,633 shares during the period. FMR LLC owned approximately 1.86% of Pinterest worth $365,381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PINS. Integrated Wealth Concepts LLC boosted its stake in shares of Pinterest by 18.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,316 shares of the company's stock valued at $366,000 after purchasing an additional 1,796 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Pinterest by 83.8% in the third quarter. Quantinno Capital Management LP now owns 24,625 shares of the company's stock worth $797,000 after purchasing an additional 11,230 shares during the last quarter. Stifel Financial Corp boosted its position in Pinterest by 8.8% during the third quarter. Stifel Financial Corp now owns 234,128 shares of the company's stock valued at $7,579,000 after buying an additional 18,936 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Pinterest during the third quarter valued at about $228,000. Finally, XTX Topco Ltd purchased a new position in shares of Pinterest in the third quarter worth about $617,000. Institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PINS. Jefferies Financial Group restated a "hold" rating and set a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Benchmark upgraded shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a report on Friday, February 7th. Roth Capital set a $32.00 price target on shares of Pinterest in a report on Monday, February 3rd. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Monness Crespi & Hardt raised shares of Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.81.

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Pinterest Price Performance

Pinterest stock traded down $0.11 during mid-day trading on Wednesday, reaching $25.88. The stock had a trading volume of 1,775,922 shares, compared to its average volume of 12,470,356. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The company has a 50-day moving average price of $33.12 and a two-hundred day moving average price of $32.07. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last issued 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 return on equity of 8.10% and a net margin of 51.07%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 452,686 shares of company stock worth $14,797,342. 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.