LPL Financial LLC Acquires 15,164 Shares of Pinterest, Inc. (NYSE:PINS)

LPL Financial LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,427 shares of the company's stock after acquiring an additional 15,164 shares during the quarter. LPL Financial LLC owned about 0.06% of Pinterest worth $12,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Leibman Financial Services Inc. grew its position in Pinterest by 102.2% during the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock worth $1,862,000 after purchasing an additional 32,464 shares during the last quarter. Janney Capital Management LLC purchased a new position in shares of Pinterest during the fourth quarter worth about $4,289,000. Jones Financial Companies Lllp increased its position in Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock valued at $725,000 after acquiring an additional 11,925 shares during the period. Weiss Asset Management LP purchased a new stake in Pinterest during the 3rd quarter valued at approximately $1,296,000. Finally, Everence Capital Management Inc. acquired a new stake in Pinterest during the 4th quarter worth approximately $520,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PINS. The Goldman Sachs Group upped their price target on Pinterest from $42.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus restated a "buy" rating and issued a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Piper Sandler reiterated a "neutral" rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Benchmark upgraded shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Finally, Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.17.

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Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % 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 stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, 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. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 over the last three months. 7.11% of the stock is owned by insiders.

Pinterest Trading Down 6.3 %

Shares of PINS stock traded down $1.73 during trading hours on Friday, reaching $25.78. The stock had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The stock's fifty day simple moving average is $34.40 and its 200 day simple moving average is $32.38. The firm has a market capitalization of $17.49 billion, a PE ratio of 9.58, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 12 month low of $24.91 and a 12 month high of $45.19.

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

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.