Korea Investment CORP Acquires 379,619 Shares of Pinterest, Inc. (NYSE:PINS)

Korea Investment CORP increased its holdings in Pinterest, Inc. (NYSE:PINS) by 63.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 978,467 shares of the company’s stock after buying an additional 379,619 shares during the period. Korea Investment CORP’s holdings in Pinterest were worth $28,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in shares of Pinterest in the 3rd quarter worth approximately $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest in the third quarter valued at approximately $123,006,000. Raymond James Financial Inc. purchased a new position in Pinterest in the fourth quarter worth $61,261,000. Nordea Investment Management AB increased its position in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Pinterest by 582.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after purchasing an additional 1,934,653 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $31.49 on Friday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock’s fifty day moving average is $34.66 and its two-hundred day moving average is $32.37. The firm has a market capitalization of $21.35 billion, a P/E ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, January 10th. Oppenheimer boosted their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Barclays upped their target price on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is currently owned by insiders.

Pinterest Company 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.