New World Advisors LLC Purchases Shares of 11,425 Pinterest, Inc. (NYSE:PINS)

New World Advisors LLC purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, Holdings Channel reports. The firm purchased 11,425 shares of the company’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after buying an additional 156,748 shares during the period. Geode Capital Management LLC grew its holdings in shares of Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the period. Finally, Ninety One UK Ltd grew its holdings in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $600,010 in the last three months. 7.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of research reports. Raymond James boosted their target price on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Friday, February 7th. Oppenheimer boosted their target price on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Guggenheim boosted their price target on Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, TD Cowen started coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Pinterest Trading Down 4.8 %

PINS stock opened at $37.68 on Monday. The firm has a market cap of $25.55 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.95 and a beta of 1.06. The stock’s 50 day simple moving average is $32.92 and its 200 day simple moving average is $31.88. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data 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 return on equity of 8.10% and a net margin of 51.07%. On average, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.