Russell Investments Group Ltd. Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Russell Investments Group Ltd. boosted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 22.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,620 shares of the company's stock after acquiring an additional 94,365 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Pinterest worth $14,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PINS. Whipplewood Advisors LLC purchased a new stake in Pinterest in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after buying an additional 415 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after buying an additional 590 shares in the last quarter. Huntington National Bank grew its holdings in Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company's stock worth $59,000 after acquiring an additional 1,680 shares during the period. Finally, Manchester Capital Management LLC raised its position in Pinterest by 17,692.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company's stock worth $67,000 after acquiring an additional 2,300 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 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. Guggenheim restated a "buy" rating on shares of Pinterest in a research report on Tuesday, April 1st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, KeyCorp decreased their price target on Pinterest from $41.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and an average price target of $41.81.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was 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 $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the 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 of the company's stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 452,686 shares of company stock valued at $14,797,342 in the last three months. Corporate insiders own 7.11% of the company's stock.

Pinterest Price Performance

PINS stock traded down $0.14 on Wednesday, hitting $25.85. 1,573,454 shares of the company were exchanged, compared to its average volume of 10,415,136. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The business's fifty day moving average is $33.12 and its two-hundred day moving average is $32.07. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its 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%. Equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current 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.