Covestor Ltd Purchases 1,479 Shares of Pinterest, Inc. (NYSE:PINS)

Covestor Ltd raised its position in Pinterest, Inc. (NYSE:PINS) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,157 shares of the company’s stock after purchasing an additional 1,479 shares during the quarter. Covestor Ltd’s holdings in Pinterest were worth $179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PINS. Treasurer of the State of North Carolina increased its position in Pinterest by 3.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 310,758 shares of the company’s stock valued at $9,012,000 after acquiring an additional 11,650 shares during the period. CenterBook Partners LP increased its holdings in Pinterest by 82.5% in the fourth quarter. CenterBook Partners LP now owns 83,707 shares of the company’s stock valued at $2,428,000 after purchasing an additional 37,843 shares during the period. APG Asset Management N.V. increased its holdings in Pinterest by 647.6% in the fourth quarter. APG Asset Management N.V. now owns 390,770 shares of the company’s stock valued at $10,944,000 after purchasing an additional 338,500 shares during the period. Abacus FCF Advisors LLC raised its position in Pinterest by 98.5% during the 4th quarter. Abacus FCF Advisors LLC now owns 76,064 shares of the company’s stock worth $2,206,000 after purchasing an additional 37,748 shares during the last quarter. Finally, Renaissance Group LLC acquired a new position in Pinterest during the 4th quarter worth about $23,894,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PINS has been the subject of a number of analyst reports. Cantor Fitzgerald raised their price objective on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. KeyCorp lowered their price target on shares of Pinterest from $41.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday. Morgan Stanley lifted their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Piper Sandler cut their price target on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.45.

Insider Activity

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % 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, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated 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 owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock valued at $14,832,336 in the last ninety days. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $26.20 on Friday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The company has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $32.20. The company has a market capitalization of $17.77 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.