Jupiter Asset Management Ltd. Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Jupiter Asset Management Ltd. lifted its stake in Pinterest, Inc. (NYSE:PINS) by 80.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 633,278 shares of the company’s stock after purchasing an additional 281,451 shares during the period. Jupiter Asset Management Ltd. owned about 0.09% of Pinterest worth $21,956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PINS. Wellington Management Group LLP lifted its holdings in Pinterest by 60.1% during the 3rd quarter. Wellington Management Group LLP now owns 464,680 shares of the company’s stock worth $12,560,000 after buying an additional 174,406 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Pinterest by 48.5% during the 4th quarter. Raymond James Trust N.A. now owns 27,686 shares of the company’s stock worth $1,025,000 after buying an additional 9,040 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Pinterest during the 4th quarter worth about $628,000. SG Americas Securities LLC lifted its holdings in Pinterest by 506.6% during the 4th quarter. SG Americas Securities LLC now owns 202,262 shares of the company’s stock worth $7,492,000 after buying an additional 168,919 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new stake in Pinterest during the 4th quarter worth about $241,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares in the company, valued at approximately $1,255,332. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock valued at $2,191,304 in the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PINS shares. Wells Fargo & Company boosted their target price on Pinterest from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Rosenblatt Securities reissued a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their target price on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus boosted their target price on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.04.

Pinterest Trading Down 0.4 %

Shares of NYSE:PINS traded down $0.18 during trading on Friday, hitting $40.78. 10,265,896 shares of the stock were exchanged, compared to its average volume of 6,325,802. The company has a fifty day moving average price of $42.61 and a two-hundred day moving average price of $38.42. The company has a market cap of $27.86 billion, a PE ratio of 194.20, a P/E/G ratio of 3.98 and a beta of 0.97. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Equities research analysts anticipate that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal 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.