Sanctuary Advisors LLC Makes New $3.85 Million Investment in Pinterest, Inc. (NYSE:PINS)

Sanctuary Advisors LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 87,428 shares of the company's stock, valued at approximately $3,853,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company's stock valued at $221,850,000 after acquiring an additional 5,524,796 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Pinterest in the second quarter valued at about $98,655,000. Contour Asset Management LLC lifted its stake in shares of Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company's stock worth $169,242,000 after purchasing an additional 2,023,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Pinterest by 45.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company's stock worth $198,846,000 after buying an additional 1,798,494 shares during the period. Finally, Ninety One UK Ltd grew its stake in shares of Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock valued at $239,991,000 after buying an additional 1,679,348 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PINS. JPMorgan Chase & Co. reduced their price target on Pinterest from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Raymond James lowered their price target on shares of Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. KeyCorp cut their price objective on shares of Pinterest from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their target price on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.25.

Pinterest Stock Up 1.5 %

Shares of NYSE:PINS traded up $0.48 during trading on Friday, hitting $33.25. 6,307,461 shares of the company traded hands, compared to its average volume of 9,561,602. The business's fifty day moving average is $31.04 and its 200-day moving average is $36.57. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 158.33, a PEG ratio of 2.51 and a beta of 1.01. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same period last year, the company earned ($0.04) earnings per share. The firm's revenue for the quarter was up 20.6% on a year-over-year basis. On average, analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.11% of the company's stock.

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.