11,425 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by New World Advisors LLC

New World Advisors LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,425 shares of the company’s stock, valued at approximately $331,000.

A number of other large investors have also recently made changes to their positions in PINS. GAMMA Investing LLC increased its stake 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 during the period. Crewe Advisors LLC increased its stake in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the period. True Wealth Design LLC increased its stake in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after buying an additional 590 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in Pinterest by 17,692.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after purchasing an additional 2,300 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PINS shares. Rosenblatt Securities upped their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Guggenheim upped their price target on Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Raymond James upped their price target on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $600,010 in the last 90 days. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

Pinterest stock opened at $37.68 on Monday. The company has a market cap of $25.55 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business has a fifty day moving average of $32.92 and a two-hundred day moving average of $31.88.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts predict 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.