Franklin Resources Inc. Has $240.95 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Franklin Resources Inc. lessened its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,308,469 shares of the company's stock after selling 215,816 shares during the quarter. Franklin Resources Inc. owned about 1.23% of Pinterest worth $240,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its position in Pinterest by 21.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 988,403 shares of the company's stock worth $30,512,000 after purchasing an additional 173,848 shares during the period. RWA Wealth Partners LLC boosted its stake in shares of Pinterest by 3,349.3% in the 4th quarter. RWA Wealth Partners LLC now owns 259,385 shares of the company's stock valued at $7,522,000 after purchasing an additional 251,865 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Pinterest by 357.5% during the 4th quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company's stock worth $79,269,000 after buying an additional 2,125,010 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Pinterest during the fourth quarter worth approximately $279,000. Finally, Allstate Corp acquired a new position in Pinterest in the fourth quarter valued at approximately $512,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Rosenblatt Securities upped their target price on shares of Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Roth Capital set a $32.00 target price on Pinterest in a research note on Monday, February 3rd. Cantor Fitzgerald raised their target price on Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Finally, Oppenheimer boosted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Remove Ads

Pinterest Trading Down 6.3 %

Shares of NYSE:PINS traded down $1.73 on Friday, hitting $25.78. The company had a trading volume of 22,729,308 shares, compared to its average volume of 10,243,869. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.95 and a beta of 0.99. The stock has a 50 day moving average price of $34.40 and a 200 day moving average price of $32.40. Pinterest, Inc. has a 1-year low of $24.91 and a 1-year 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 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%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,836 shares of company stock valued at $14,832,336. 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.