Renaissance Group LLC Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Renaissance Group LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 822,821 shares of the company's stock, valued at approximately $23,894,000. Renaissance Group LLC owned about 0.12% of Pinterest at the end of the most recent reporting period.

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

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Wall Street Analyst Weigh In

PINS has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on shares of Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and raised their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. UBS Group cut their price objective on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a report on Friday. Raymond James downgraded Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Finally, TD Cowen dropped their target price on Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.23.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction 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. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the completion of the sale, the director now owns 6,274 shares of the company's stock, valued at $196,187.98. This trade represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock valued at $14,832,336 in the last three months. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Up 0.4 %

PINS stock traded up $0.12 during mid-day trading on Friday, reaching $26.35. The company had a trading volume of 9,048,658 shares, compared to its average volume of 10,439,275. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The stock has a market capitalization of $17.87 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.95 and a beta of 0.99. The stock's 50-day simple moving average is $33.42 and its two-hundred day simple moving average is $32.16.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data 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 net margin of 51.07% and a return on equity of 8.10%. On average, research analysts forecast that Pinterest, Inc. will post 0.6 EPS 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.