Zevenbergen Capital Investments LLC Takes $10.61 Million Position in Pinterest, Inc. (NYSE:PINS)

Zevenbergen Capital Investments LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 365,800 shares of the company's stock, valued at approximately $10,608,000. Zevenbergen Capital Investments LLC owned about 0.05% of Pinterest as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PINS. Maverick Capital Ltd. grew its position in Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock worth $1,851,000 after purchasing an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock worth $49,855,000 after buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock valued at $27,326,000 after buying an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company's stock valued at $137,669,000 after acquiring an additional 87,041 shares during the period. Finally, Leibman Financial Services Inc. raised its stake in Pinterest by 102.2% in the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock worth $1,862,000 after acquiring an additional 32,464 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PINS shares. The Goldman Sachs Group increased their price objective on Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, February 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Benchmark upgraded shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Raymond James increased their price objective on shares of Pinterest from $34.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, Wedbush raised their target price on shares of Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.33.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 12,253 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the transaction, the insider now directly owns 228,510 shares of the company's stock, valued at approximately $7,367,162.40. The trade was a 5.09 % decrease in their ownership of the stock. The sale 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 company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock worth $11,640,201 over the last ninety days. Company insiders own 7.11% of the company's stock.

Pinterest Trading Down 2.3 %

PINS stock traded down $0.76 during trading on Friday, reaching $31.49. 8,565,145 shares of the stock were exchanged, compared to its average volume of 10,065,459. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02. The business has a 50 day moving average price of $34.66 and a 200-day moving average price of $32.37. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last released 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 net margin of 51.07% and a return on equity of 8.10%. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest 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.