Pinterest, Inc. (NYSE:PINS) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 93.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,881 shares of the company’s stock after buying an additional 60,409 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pinterest were worth $3,622,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of Pinterest by 3,154.6% during the third quarter. International Assets Investment Management LLC now owns 29,845 shares of the company’s stock worth $922,000 after purchasing an additional 28,928 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Pinterest by 34.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,568 shares of the company’s stock worth $1,281,000 after buying an additional 10,228 shares during the period. Pallas Capital Advisors LLC acquired a new stake in Pinterest in the 3rd quarter worth about $496,000. abrdn plc boosted its stake in Pinterest by 31.0% in the 3rd quarter. abrdn plc now owns 121,639 shares of the company’s stock worth $3,937,000 after buying an additional 28,769 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Pinterest by 4.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 21,237 shares of the company’s stock valued at $678,000 after buying an additional 999 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research reports. UBS Group lowered their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. TD Cowen initiated coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price for the company. Guggenheim lifted their price target on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Robert W. Baird dropped their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Roth Capital set a $32.00 price target on Pinterest in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $43.47.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 transaction, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,117 shares of company stock valued at $253,056 over the last quarter. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $36.20 on Friday. The business’s 50-day moving average is $33.30 and its 200-day moving average is $32.03. The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. Equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share 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.