Jennison Associates LLC Has $57.02 Million Position in Pinterest, Inc. (NYSE:PINS)

Jennison Associates LLC lessened its position in Pinterest, Inc. (NYSE:PINS) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,539,482 shares of the company’s stock after selling 115,549 shares during the period. Jennison Associates LLC owned 0.23% of Pinterest worth $57,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PINS. Ameriprise Financial Inc. increased its stake in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after buying an additional 3,390,924 shares during the period. Baillie Gifford & Co. increased its stake in shares of Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after buying an additional 1,043,173 shares during the period. Clearbridge Investments LLC increased its stake in shares of Pinterest by 26.0% in the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock valued at $184,357,000 after buying an additional 1,407,793 shares during the period. Brown Advisory Inc. increased its stake in shares of Pinterest by 1.1% in the third quarter. Brown Advisory Inc. now owns 6,352,023 shares of the company’s stock valued at $171,695,000 after buying an additional 69,773 shares during the period. Finally, FMR LLC increased its stake in shares of Pinterest by 8.1% in the third quarter. FMR LLC now owns 5,097,160 shares of the company’s stock valued at $137,776,000 after buying an additional 381,837 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now directly owns 74,215 shares in the company, valued at approximately $2,789,741.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,471 shares of company stock valued at $6,525,231. 6.85% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Pinterest stock opened at $33.02 on Wednesday. The stock’s 50 day simple moving average is $34.74 and its two-hundred day simple moving average is $34.12. The stock has a market cap of $22.42 billion, a price-to-earnings ratio of -550.24, a PEG ratio of 4.49 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $41.60.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, analysts predict that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price target on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Piper Sandler restated an “overweight” rating and set a $48.00 target price on shares of Pinterest in a research report on Tuesday, March 26th. Roth Mkm upped their target price on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. BMO Capital Markets assumed coverage on Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.97.

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.