Tower Research Capital LLC TRC Buys 14,978 Shares of Pinterest, Inc. (NYSE:PINS)

Tower Research Capital LLC TRC raised its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 113.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,165 shares of the company's stock after acquiring an additional 14,978 shares during the period. Tower Research Capital LLC TRC's holdings in Pinterest were worth $817,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Pinterest during the 3rd quarter worth about $87,000. GAMMA Investing LLC increased its holdings 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 buying an additional 415 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Pinterest in the fourth quarter valued at approximately $520,000. Nordea Investment Management AB boosted its holdings in shares of Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock worth $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. Finally, Graypoint LLC bought a new stake in Pinterest during the 4th quarter worth approximately $317,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on PINS shares. Wells Fargo & Company cut their price objective on Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Citigroup decreased their price objective on shares of Pinterest from $47.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Guggenheim reissued a "buy" rating on shares of Pinterest in a research note on Tuesday, April 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Eight 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.10.

Pinterest Stock Performance

NYSE:PINS opened at $26.05 on Friday. The company has a market cap of $17.67 billion, a PE ratio of 9.68, a PEG ratio of 1.95 and a beta of 0.99. The stock has a 50-day simple moving average of $30.87 and a 200 day simple moving average of $31.64. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data 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, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total transaction of $31,050.00. Following the transaction, the director now owns 26,786 shares in the company, valued at approximately $723,222. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,828,392 in the last three months. Insiders own 7.11% of the company's stock.

Pinterest Company 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.

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