Royal London Asset Management Ltd. Acquires 2,301 Shares of Pinterest, Inc. (NYSE:PINS)

Royal London Asset Management Ltd. raised its stake in Pinterest, Inc. (NYSE:PINSFree Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,273 shares of the company’s stock after acquiring an additional 2,301 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Pinterest were worth $10,085,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in Pinterest during the 4th quarter worth $241,229,000. Fred Alger Management LLC grew its holdings in shares of Pinterest by 279,496.9% during the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after purchasing an additional 4,670,394 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after buying an additional 3,390,924 shares during the period. Franklin Resources Inc. raised its holdings in Pinterest by 34.0% in the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the last quarter. Finally, Contour Asset Management LLC boosted its position in Pinterest by 79.5% during the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after buying an additional 2,023,500 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Up 0.6 %

NYSE:PINS traded up $0.28 during mid-day trading on Friday, hitting $43.51. 7,132,272 shares of the stock traded hands, compared to its average volume of 6,646,457. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $44.64. The company has a market cap of $29.72 billion, a PE ratio of 207.20, a price-to-earnings-growth ratio of 4.27 and a beta of 0.97. The business’s 50-day moving average price is $39.11 and its 200 day moving average price is $37.20.

Pinterest (NYSE:PINSGet Free Report) last posted its 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. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $739.98 million during the quarter, compared to analysts’ expectations of $699.96 million. Analysts anticipate that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Loop Capital raised their target price on Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada lifted their price objective on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their target price on Pinterest from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Finally, Sanford C. Bernstein upped their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $41.34.

Check Out Our Latest Stock Analysis on Pinterest

Insider Buying and Selling at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest 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 transaction, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. Insiders have sold 67,650 shares of company stock worth $2,466,665 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Pinterest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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