Invesco Ltd. Has $50.58 Million Position in Pinterest, Inc. (NYSE:PINS)

Invesco Ltd. lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,744,054 shares of the company’s stock after selling 51,115 shares during the quarter. Invesco Ltd. owned approximately 0.26% of Pinterest worth $50,578,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Pinterest in the fourth quarter valued at approximately $358,205,000. Schroder Investment Management Group boosted its stake in shares of Pinterest by 357.5% in the 4th quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock valued at $79,269,000 after purchasing an additional 2,125,010 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Pinterest during the fourth quarter worth $61,261,000. Nordea Investment Management AB raised its stake in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings 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 buying an additional 1,934,653 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Up 0.6 %

Pinterest stock opened at $25.99 on Wednesday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The company’s 50 day moving average price is $33.12 and its two-hundred day moving average price is $32.07. The stock has a market cap of $17.63 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS 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%. On average, equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 452,686 shares of company stock valued at $14,797,342. 7.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of several research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Piper Sandler reduced their price objective on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Finally, Guggenheim reissued a “buy” rating on shares of Pinterest in a research note on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $41.81.

Pinterest 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.