ARK Investment Management LLC Purchases 17,997 Shares of Pinterest, Inc. (NYSE:PINS)

ARK Investment Management LLC raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 4,386,546 shares of the company’s stock after acquiring an additional 17,997 shares during the period. Pinterest comprises about 1.1% of ARK Investment Management LLC’s investment portfolio, making the stock its 29th largest holding. ARK Investment Management LLC’s holdings in Pinterest were worth $127,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Crewe Advisors LLC increased its holdings in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the period. True Wealth Design LLC increased its holdings in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in shares of Pinterest by 17,692.3% in the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after acquiring an additional 2,300 shares during the period. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PINS shares. Piper Sandler reiterated 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. Stifel Nicolaus reiterated 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. Raymond James lifted 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. JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, UBS Group dropped their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,117 shares of company stock valued at $253,056 in the last quarter. 7.11% of the stock is currently owned by company insiders.

Pinterest Stock Down 0.7 %

Shares of PINS stock opened at $36.69 on Wednesday. The stock has a market cap of $24.89 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The business has a 50-day simple moving average of $33.05 and a 200-day simple moving average of $31.94. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data 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 net margin of 51.07% and a return on equity of 8.10%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.