Bridgewater Associates LP Purchases 1,962,751 Shares of Pinterest, Inc. (NYSE:PINS)

Bridgewater Associates LP increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 124.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,544,403 shares of the company’s stock after purchasing an additional 1,962,751 shares during the period. Bridgewater Associates LP owned 0.52% of Pinterest worth $102,788,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Pinterest during the fourth quarter worth approximately $9,484,000. Senvest Management LLC acquired a new stake in Pinterest during the 4th quarter worth approximately $45,176,000. XTX Topco Ltd boosted its stake in Pinterest by 76.1% in the 4th quarter. XTX Topco Ltd now owns 33,553 shares of the company’s stock valued at $973,000 after purchasing an additional 14,503 shares during the period. Inflection Point Investments LLP grew its holdings in Pinterest by 21.2% in the 4th quarter. Inflection Point Investments LLP now owns 291,658 shares of the company’s stock valued at $8,458,000 after buying an additional 50,963 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in Pinterest by 9.9% during the 4th quarter. Townsquare Capital LLC now owns 45,727 shares of the company’s stock worth $1,326,000 after buying an additional 4,127 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction on 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 owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest 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 sale, the director now owns 6,274 shares in the company, valued at $196,187.98. The trade was a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 in the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Oppenheimer lifted their price target on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Raymond James downgraded Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Citigroup dropped their price objective on Pinterest from $47.00 to $38.00 and set a “buy” rating for the company in a report on Monday. Finally, Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.81.

Pinterest Stock Performance

Shares of NYSE PINS opened at $25.84 on Tuesday. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm’s 50-day simple moving average is $33.27 and its 200 day simple moving average is $32.11.

Pinterest (NYSE:PINS) last posted its 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 net margin of 51.07% and a return on equity of 8.10%. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current 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.