Pinterest, Inc. (NYSE:PINS) Stake Boosted by Natixis Advisors L.P.

Natixis Advisors L.P. lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 97.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 574,115 shares of the company’s stock after purchasing an additional 283,837 shares during the quarter. Natixis Advisors L.P. owned about 0.09% of Pinterest worth $21,265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PINS. Ameriprise Financial Inc. raised its holdings in Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after purchasing an additional 3,390,924 shares in the last quarter. Baillie Gifford & Co. raised its position in Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after acquiring an additional 1,043,173 shares in the last quarter. Clearbridge Investments LLC raised its position in Pinterest by 26.0% in the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock worth $184,357,000 after acquiring an additional 1,407,793 shares in the last quarter. FMR LLC lifted its holdings in Pinterest by 8.1% in the 3rd quarter. FMR LLC now owns 5,097,160 shares of the company’s stock valued at $137,776,000 after acquiring an additional 381,837 shares during the last quarter. Finally, Fred Alger Management LLC boosted its position in shares of Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after purchasing an additional 4,670,394 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 0.2 %

NYSE:PINS opened at $40.41 on Monday. The stock has a 50-day moving average price of $34.79 and a two-hundred day moving average price of $34.58. Pinterest, Inc. has a 1 year low of $20.60 and a 1 year high of $41.60. The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 192.44, a PEG ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Sell-side analysts forecast that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total value of $65,949.40. Following the completion of the sale, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock worth $5,773,431 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PINS. Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Sanford C. Bernstein boosted their target price on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Piper Sandler increased their price target on Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wedbush boosted their price objective on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, KeyCorp decreased their target price on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.82.

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.