Geode Capital Management LLC Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Geode Capital Management LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,648,352 shares of the company's stock after acquiring an additional 181,767 shares during the period. Geode Capital Management LLC owned 1.43% of Pinterest worth $279,281,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Pinterest in the fourth quarter valued at about $358,205,000. Schroder Investment Management Group boosted its holdings in Pinterest by 357.5% in the 4th quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company's stock valued at $79,269,000 after purchasing an additional 2,125,010 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Pinterest during the 4th quarter worth approximately $61,261,000. Nordea Investment Management AB raised its position in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock valued at $111,515,000 after buying an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock valued at $65,741,000 after buying an additional 1,934,653 shares during the period. Institutional investors own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America cut their price objective on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday. Stifel Nicolaus reissued a "buy" rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Barclays upped their target price on Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Cantor Fitzgerald lifted their price target on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, Raymond James downgraded Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.45.

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Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the sale, the director now owns 6,274 shares of the company's stock, valued at approximately $196,187.98. This represents a 94.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 29,086 shares of the company's stock, 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. In the last quarter, insiders have sold 453,836 shares of company stock valued at $14,832,336. Corporate insiders own 7.11% of the company's stock.

Pinterest Stock Down 6.3 %

PINS stock traded down $1.79 during mid-day trading on Thursday, reaching $26.36. 4,861,793 shares of the company traded hands, compared to its average volume of 10,376,460. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm's 50 day moving average price is $33.70 and its 200 day moving average price is $32.24.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 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, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Pinterest 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.