Dynamic Technology Lab Private Ltd Buys 9,074 Shares of Pinterest, Inc. (NYSE:PINS)

Dynamic Technology Lab Private Ltd boosted its stake in Pinterest, Inc. (NYSE:PINS) by 32.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 37,299 shares of the company’s stock after purchasing an additional 9,074 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Pinterest were worth $1,082,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. purchased a new stake in shares of Pinterest during the 4th quarter worth approximately $4,996,000. ExodusPoint Capital Management LP bought a new stake in shares of Pinterest in the fourth quarter valued at $2,844,000. Motley Fool Asset Management LLC lifted its position in shares of Pinterest by 15.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 15,803 shares of the company’s stock valued at $458,000 after buying an additional 2,100 shares during the last quarter. Westpac Banking Corp grew its stake in shares of Pinterest by 34.6% during the 4th quarter. Westpac Banking Corp now owns 34,595 shares of the company’s stock worth $1,003,000 after acquiring an additional 8,893 shares during the period. Finally, Huntington National Bank increased its holdings in Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock worth $59,000 after acquiring an additional 1,680 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of Pinterest stock opened at $25.78 on Friday. The stock has a market capitalization of $17.49 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a one year low of $24.91 and a one year high of $45.19. The business’s 50 day simple moving average is $34.40 and its two-hundred day simple moving average is $32.40.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PINS shares. Piper Sandler reiterated a “neutral” rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. 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. Guggenheim reiterated a “buy” rating on shares of Pinterest in a research report on Tuesday, April 1st. Finally, Rosenblatt Securities increased their price objective on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $43.17.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the completion of the sale, the director now owns 6,274 shares of the company’s stock, valued at $196,187.98. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeremy S. Levine sold 50,535 shares of Pinterest stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the completion of the sale, the director now owns 1,156,693 shares in the company, valued at approximately $39,304,428.14. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,836 shares of company stock worth $14,832,336. Company insiders own 7.11% of the company’s stock.

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.