Schroder Investment Management Group Has $79.27 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Schroder Investment Management Group boosted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 357.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,719,355 shares of the company's stock after buying an additional 2,125,010 shares during the period. Schroder Investment Management Group owned 0.40% of Pinterest worth $79,269,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock valued at $413,483,000 after acquiring an additional 156,748 shares during the period. Norges Bank bought a new position in shares of Pinterest in the fourth quarter worth $358,205,000. Geode Capital Management LLC increased its holdings in shares of Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock valued at $305,710,000 after purchasing an additional 76,920 shares during the period. Ninety One UK Ltd raised its stake in shares of Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock valued at $158,677,000 after purchasing an additional 278,362 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Pinterest in the third quarter worth about $153,829,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PINS shares. Piper Sandler restated a "neutral" rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. KeyCorp dropped their target price on Pinterest from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Morgan Stanley upped their target price on Pinterest from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Rosenblatt Securities boosted their price objective on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein raised Pinterest from a "market perform" rating to an "outperform" rating and raised their target price for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Seven equities 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 data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and an average target price of $43.17.

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Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the firm's stock in a transaction on 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 in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,753 shares of company stock valued at $11,640,201 in the last three months. Insiders own 7.11% of the company's stock.

Pinterest Price Performance

PINS traded up $0.02 on Tuesday, reaching $31.02. 8,469,296 shares of the company traded hands, compared to its average volume of 10,070,134. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.95 and a beta of 1.02. The stock's 50 day moving average price is $34.65 and its 200-day moving average price is $32.44.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results 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 net margin of 51.07% and a return on equity of 8.10%. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

About Pinterest

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.