Pinterest, Inc. (NYSE:PINS) Shares Bought by Simplicity Solutions LLC

Simplicity Solutions LLC grew its holdings in Pinterest, Inc. (NYSE:PINS) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,953 shares of the company’s stock after acquiring an additional 1,972 shares during the quarter. Simplicity Solutions LLC’s holdings in Pinterest were worth $369,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 372.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock worth $487,394,000 after purchasing an additional 15,825,757 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after buying an additional 8,341,222 shares during the period. Norges Bank purchased a new stake in shares of Pinterest during the fourth quarter valued at $149,748,000. Fred Alger Management LLC increased its position in shares of Pinterest by 279,496.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after acquiring an additional 4,670,394 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Pinterest by 43.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after acquiring an additional 3,390,924 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

PINS opened at $32.40 on Friday. The company’s 50 day simple moving average is $34.79 and its two-hundred day simple moving average is $33.97. Pinterest, Inc. has a 1-year low of $20.60 and a 1-year high of $41.60.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. Equities research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of research reports. Wedbush increased their price objective on Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Tuesday, March 26th. Stifel Nicolaus raised their target price on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, Susquehanna upped their price target on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.97.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares in the company, valued at $2,789,741.85. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock worth $6,525,231 in the last quarter. Company insiders own 6.85% 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.