Junto Capital Management LP Purchases Shares of 1,089,051 Pinterest, Inc. (NYSE:PINS)

Junto Capital Management LP acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,089,051 shares of the company’s stock, valued at approximately $31,582,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PINS. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after buying an additional 12,986,310 shares during the period. Ameriprise Financial Inc. lifted its position in Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. FMR LLC boosted its holdings in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after acquiring an additional 316,633 shares during the period. Norges Bank acquired a new position in shares of Pinterest in the fourth quarter valued at approximately $358,205,000. Finally, Marshall Wace LLP increased its stake in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Up 4.9 %

NYSE PINS opened at $29.23 on Friday. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19. The business’s fifty day moving average is $28.84 and its 200 day moving average is $31.21.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period in the previous year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Capital set a $32.00 price target on Pinterest in a research note on Monday, February 3rd. Monness Crespi & Hardt reduced their target price on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. UBS Group lowered their price target on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities boosted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $40.00 target price (up from $38.00) on shares of Pinterest in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.27.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the transaction, the director now owns 26,786 shares in the company, valued at approximately $723,222. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock valued at $14,828,392 in the last ninety days. 7.06% of the stock is currently owned by insiders.

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.