Rhumbline Advisers Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Rhumbline Advisers lifted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,168,537 shares of the company's stock after buying an additional 51,532 shares during the period. Rhumbline Advisers owned about 0.17% of Pinterest worth $33,888,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Pinterest during the 3rd quarter valued at approximately $37,000. Blue Trust Inc. lifted its stake in Pinterest by 244.6% in the third quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock valued at $253,000 after purchasing an additional 5,558 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Pinterest by 4,316.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 726,279 shares of the company's stock valued at $23,510,000 after purchasing an additional 709,834 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock valued at $205,000 after purchasing an additional 313 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Pinterest by 3,154.6% in the third quarter. International Assets Investment Management LLC now owns 29,845 shares of the company's stock valued at $922,000 after purchasing an additional 28,928 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Stock Performance

Shares of PINS stock traded up $0.97 on Thursday, hitting $39.66. 11,980,771 shares of the stock traded hands, compared to its average volume of 12,332,755. The stock has a market capitalization of $26.90 billion, a PE ratio of 14.74, a PEG ratio of 1.93 and a beta of 1.06. The firm's 50-day moving average price is $32.78 and its two-hundred day moving average price is $31.78. Pinterest, Inc. has a twelve month low of $27.00 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PINS shares. Morgan Stanley increased 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. KeyCorp increased their price objective on Pinterest from $37.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Guggenheim increased their price objective on Pinterest from $33.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Piper Sandler reissued a "neutral" rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.86.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the sale, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company's stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $600,010 in the last quarter. Corporate insiders own 7.11% of the company's stock.

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.