Pinterest, Inc. (NYSE:PINS) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 26.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,916 shares of the company’s stock after acquiring an additional 2,274 shares during the period. Independent Advisor Alliance’s holdings in Pinterest were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Pinterest during the 3rd quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP acquired a new position in shares of Pinterest in the third quarter worth about $123,006,000. Ontario Teachers Pension Plan Board boosted its stake 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 worth $285,248,000 after acquiring an additional 2,996,750 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Pinterest during the 4th quarter valued at about $61,261,000. Finally, Nordea Investment Management AB increased its stake in shares of Pinterest by 122.1% in the 4th 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. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wedbush lifted their price target on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. TD Cowen started coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective for the company. KeyCorp dropped their target price on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays upped their price target on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.30.

Pinterest Stock Performance

PINS stock opened at $31.25 on Wednesday. The firm has a market cap of $21.19 billion, a PE ratio of 11.62, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm’s 50 day moving average price is $34.32 and its 200-day moving average price is $32.28.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Jeremy S. Levine sold 50,535 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the completion of the transaction, the director now directly owns 1,156,693 shares in the company, valued at $39,304,428.14. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,729 shares of company stock worth $3,617,950 over the last three months. Insiders own 7.11% of the company’s stock.

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.