Advisors Asset Management Inc. Purchases 12,702 Shares of Pinterest, Inc. (NYSE:PINS)

Advisors Asset Management Inc. lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.0% in the fourth quarter, HoldingsChannel reports. The fund owned 434,027 shares of the company’s stock after buying an additional 12,702 shares during the period. Advisors Asset Management Inc.’s holdings in Pinterest were worth $12,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Whipplewood Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at about $28,000. GAMMA Investing LLC boosted its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Crewe Advisors LLC boosted its position in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the last quarter. True Wealth Design LLC raised its stake in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after buying an additional 590 shares during the period. Institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the topic of several research analyst reports. Rosenblatt Securities upped their price objective on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, February 7th. Cantor Fitzgerald increased their target price on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Morgan Stanley increased their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group increased their target price on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Pinterest Stock Performance

Shares of PINS stock opened at $32.03 on Tuesday. The stock’s fifty day moving average price is $34.34 and its two-hundred day moving average price is $32.29. The company has a market cap of $21.72 billion, a PE ratio of 11.91, a P/E/G ratio of 1.95 and a beta of 1.02. 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 for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeremy S. Levine sold 50,535 shares of Pinterest stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.98, for a total value of $1,717,179.30. Following the completion of the transaction, the director now directly owns 1,156,693 shares of the company’s stock, valued at approximately $39,304,428.14. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,879 shares of company stock valued at $3,653,577 in the last 90 days. 7.11% of the stock is owned by corporate insiders.

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.