Resona Asset Management Co. Ltd. acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 171,884 shares of the company's stock, valued at approximately $4,996,000.
A number of other institutional investors have also made changes to their positions in PINS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock valued at $366,000 after purchasing an additional 342 shares in the last quarter. Ethos Financial Group LLC increased its position in shares of Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock valued at $342,000 after purchasing an additional 350 shares during the period. Amalgamated Bank boosted its stake in shares of Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company's stock worth $1,154,000 after acquiring an additional 372 shares in the last quarter. GAMMA Investing LLC boosted its position 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 purchasing an additional 415 shares during the period. Finally, Steph & Co. increased its stake in Pinterest by 6.4% in the 4th quarter. Steph & Co. now owns 7,048 shares of the company's stock worth $204,000 after purchasing an additional 425 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
Pinterest Price Performance
Shares of PINS traded up $0.11 during midday trading on Monday, hitting $26.48. The stock had a trading volume of 1,586,017 shares, compared to its average volume of 10,405,379. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The company has a 50 day simple moving average of $33.42 and a two-hundred day simple moving average of $32.16. 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 announced its 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 return on equity of 8.10% and a net margin of 51.07%. Analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.
Insider Activity at Pinterest
In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares of the company's stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares of the company's stock, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,836 shares of company stock valued at $14,832,336. Insiders own 7.11% of the company's stock.
Wall Street Analyst Weigh In
PINS has been the topic of several research analyst reports. Roth Capital set a $32.00 price target on shares of Pinterest in a report on Monday, February 3rd. Benchmark upgraded shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Friday, February 7th. Jefferies Financial Group restated a "hold" rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Stifel Nicolaus reissued a "buy" rating and set a $50.00 target price (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their price target on Pinterest from $42.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.23.
Read Our Latest Research Report on PINS
About Pinterest
(
Free Report)
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.
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