Blue Door Asset Management LLC Grows Position in Pinterest, Inc. (NYSE:PINS)

Blue Door Asset Management LLC raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 55.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 139,500 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Pinterest accounts for about 1.5% of Blue Door Asset Management LLC’s portfolio, making the stock its 11th largest position. Blue Door Asset Management LLC’s holdings in Pinterest were worth $4,046,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PINS. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new position in shares of Pinterest in the 4th quarter worth approximately $358,205,000. Marshall Wace LLP raised its stake in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after acquiring an additional 6,129,985 shares in the last quarter. Schroder Investment Management Group lifted its position in Pinterest by 357.5% during the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock valued at $79,269,000 after acquiring an additional 2,125,010 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Pinterest in the fourth quarter valued at approximately $61,261,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the transaction, the director now directly owns 6,274 shares in the company, valued at $196,187.98. This trade represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 452,686 shares of company stock worth $14,797,342 in the last 90 days. Insiders own 7.11% of the company’s stock.

Pinterest Trading Up 1.9 %

Shares of PINS opened at $24.67 on Wednesday. The firm has a market cap of $16.73 billion, a P/E ratio of 9.17, a PEG ratio of 1.95 and a beta of 0.99. The stock’s 50 day moving average is $31.66 and its two-hundred day moving average is $31.79. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on PINS shares. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. TD Cowen lowered their price target on Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group cut their price objective on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Bank of America lowered their target price on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald upped their price target on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.55.

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.