Clearwater Capital Advisors LLC Raises Position in Pinterest, Inc. (NYSE:PINS)

Clearwater Capital Advisors LLC lifted its stake in Pinterest, Inc. (NYSE:PINS) by 25.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,148 shares of the company’s stock after purchasing an additional 3,235 shares during the period. Clearwater Capital Advisors LLC’s holdings in Pinterest were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in Pinterest during the third quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP purchased a new stake in shares of Pinterest in the third quarter worth $123,006,000. Ontario Teachers Pension Plan Board raised its position in shares of 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 period. Raymond James Financial Inc. purchased a new position in shares of Pinterest during the 4th quarter valued at $61,261,000. Finally, Nordea Investment Management AB boosted its holdings in Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares during the period. 88.81% of the stock is owned by institutional investors.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value 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 trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,879 shares of company stock worth $3,653,577. 7.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PINS shares. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, January 10th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Cantor Fitzgerald upped their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Roth Capital set a $32.00 target price on shares of Pinterest in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Pinterest Price Performance

Shares of NYSE PINS opened at $31.92 on Monday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a 50-day simple moving average of $34.34 and a two-hundred day simple moving average of $32.28. The company has a market cap of $21.65 billion, a P/E ratio of 11.87, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its quarterly earnings results 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 return on equity of 8.10% and a net margin of 51.07%. As a group, equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current 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.