351,806 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 351,806 shares of the company's stock, valued at approximately $10,202,000. Loomis Sayles & Co. L P owned approximately 0.05% of Pinterest as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in Pinterest during the 3rd quarter worth $153,829,000. Southpoint Capital Advisors LP acquired a new stake in shares of Pinterest during the 3rd quarter worth $123,006,000. Raymond James Financial Inc. bought a new position in shares of Pinterest in the fourth quarter worth $61,261,000. Nordea Investment Management AB raised its stake in 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 purchasing an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock worth $65,741,000 after purchasing an additional 1,934,653 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PINS has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, February 7th. Roth Capital set a $32.00 target price on Pinterest in a research note on Monday, February 3rd. Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and raised their price target for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Jefferies Financial Group reiterated a "hold" rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Finally, Piper Sandler restated a "neutral" rating and issued a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and a consensus target price of $43.17.

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Pinterest Trading Up 1.4 %

NYSE PINS traded up $0.42 during trading hours on Wednesday, hitting $31.42. 6,923,431 shares of the company's stock were exchanged, compared to its average volume of 10,059,490. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.95 and a beta of 1.02. The stock has a 50-day simple moving average of $34.65 and a 200 day simple moving average of $32.44. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced 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, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company'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 transaction, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, 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. Over the last 90 days, insiders have sold 351,753 shares of company stock worth $11,640,201. Company 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.