Pinterest, Inc. (NYSE:PINS) Position Boosted by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC increased its holdings in Pinterest, Inc. (NYSE:PINS) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,997 shares of the company’s stock after buying an additional 2,048 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Pinterest were worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Pinterest by 21.9% in the first quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock worth $334,000 after purchasing an additional 2,437 shares during the period. MetLife Investment Management LLC acquired a new stake in Pinterest in the first quarter worth approximately $906,000. Raymond James Trust N.A. lifted its position in Pinterest by 29.0% in the first quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock worth $279,000 after purchasing an additional 2,550 shares during the period. Dimensional Fund Advisors LP lifted its position in Pinterest by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock worth $12,118,000 after purchasing an additional 51,318 shares during the period. Finally, Sei Investments Co. lifted its position in Pinterest by 261.5% in the first quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock worth $6,691,000 after purchasing an additional 198,153 shares during the period. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

PINS has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price objective for the company. Evercore ISI increased their price objective on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Roth Mkm increased their price objective on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada increased their price objective on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $45.00 target price on shares of Pinterest in a report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.97.

Pinterest Trading Up 0.4 %

Pinterest stock opened at $32.70 on Wednesday. The business’s 50-day simple moving average is $35.36 and its 200-day simple moving average is $33.91. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60.

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

Insider Buying and Selling

In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.08, for a total transaction of $701,600.00. Following the sale, the director now directly owns 34,215 shares of the company’s stock, valued at $1,200,262.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The disclosure for this sale can be found here. Insiders have sold a total of 182,537 shares of company stock valued at $6,460,751 over the last three months. 6.85% of the stock is owned by corporate insiders.

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.