Price T Rowe Associates Inc. MD Acquires 12,986,310 Shares of Pinterest, Inc. (NYSE:PINS)

Price T Rowe Associates Inc. MD grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 104.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,432,141 shares of the company's stock after acquiring an additional 12,986,310 shares during the period. Price T Rowe Associates Inc. MD owned 3.76% of Pinterest worth $737,533,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PINS. FMR LLC boosted its holdings in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after purchasing an additional 316,633 shares during the period. Norges Bank purchased a new stake in Pinterest in the fourth quarter worth approximately $358,205,000. Marshall Wace LLP grew its holdings in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pinterest by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company's stock worth $279,281,000 after buying an additional 181,767 shares during the period. Finally, Ninety One UK Ltd grew its position in Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock worth $158,677,000 after acquiring an additional 278,362 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PINS shares. KeyCorp dropped their price target on shares of Pinterest from $41.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. UBS Group reduced their price target on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Stifel Nicolaus dropped their price objective on Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Oppenheimer boosted their target price on Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Morgan Stanley dropped their price target on Pinterest from $42.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $41.10.

Pinterest Stock Up 0.3 %

PINS traded up $0.09 during midday trading on Monday, hitting $26.15. 8,627,984 shares of the company traded hands, compared to its average volume of 10,551,320. The company's 50-day moving average is $30.87 and its 200 day moving average is $31.63. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The firm has a market capitalization of $17.74 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates 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 predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Jeremy S. Levine sold 50,535 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.98, for a total value of $1,717,179.30. Following the completion of the transaction, the director now directly owns 1,156,693 shares in the company, valued at $39,304,428.14. This represents a 4.19 % decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,836 shares of company stock valued at $14,828,392. 7.11% of the stock is owned by insiders.

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.