Quantbot Technologies LP Buys Shares of 263,362 Pinterest, Inc. (NYSE:PINS)

Quantbot Technologies LP bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 263,362 shares of the company’s stock, valued at approximately $7,637,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the 3rd quarter worth about $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest in the 3rd quarter valued at $123,006,000. Ontario Teachers Pension Plan Board lifted its holdings in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Raymond James Financial Inc. bought a new position in Pinterest in the 4th quarter worth approximately $61,261,000. Finally, Nordea Investment Management AB increased its position in Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the 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 sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,879 shares of company stock valued at $3,653,577. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $31.00 on Friday. The stock has a fifty day moving average price of $34.32 and a 200 day moving average price of $32.27. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market cap of $21.03 billion, a P/E ratio of 11.52, a PEG ratio of 1.95 and a beta of 1.02.

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%. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on PINS shares. Wedbush raised their price objective on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Oppenheimer raised their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Morgan Stanley raised their price target on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Raymond James boosted their target price on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

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.