1620 Investment Advisors Inc. Invests $106,000 in Pinterest, Inc. (NYSE:PINS)

1620 Investment Advisors Inc. purchased a new position in Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,672 shares of the company’s stock, valued at approximately $106,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PINS. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest in the third quarter worth about $153,829,000. Southpoint Capital Advisors LP purchased a new stake in Pinterest in the third quarter valued at approximately $123,006,000. Raymond James Financial Inc. purchased a new stake in Pinterest in the fourth quarter valued at approximately $61,261,000. Nordea Investment Management AB raised its stake in Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after purchasing an additional 1,934,653 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Up 3.3 %

Shares of Pinterest stock opened at $32.45 on Friday. The company’s fifty day simple moving average is $34.39 and its two-hundred day simple moving average is $32.27. The company has a market cap of $22.01 billion, a P/E ratio of 12.06, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last issued 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%. Analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PINS shares. TD Cowen started coverage on shares of Pinterest in a research note on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price on the stock. Raymond James raised their target price on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, January 10th. Benchmark raised shares of 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. Finally, Barclays raised their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.30.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the transaction, the director now owns 6,274 shares in the company, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,812 shares of company stock worth $6,798,857. Corporate insiders own 7.11% of the company’s stock.

Pinterest Company 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.