Stratos Wealth Partners LTD. Makes New $250,000 Investment in Pinterest, Inc. (NYSE:PINS)

Stratos Wealth Partners LTD. acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,756 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD grew its position in Pinterest by 372.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock worth $487,394,000 after purchasing an additional 15,825,757 shares in the last quarter. Renaissance Technologies LLC grew its position in Pinterest by 262.8% during the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after purchasing an additional 8,341,222 shares in the last quarter. Norges Bank purchased a new position in Pinterest during the 4th quarter worth approximately $149,748,000. Fred Alger Management LLC grew its position in Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after purchasing an additional 4,670,394 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after purchasing an additional 3,390,924 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at approximately $1,200,262.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,471 shares of company stock valued at $6,531,381. Insiders own 6.85% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $32.58 on Tuesday. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of -543.00, a P/E/G ratio of 4.60 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The firm has a fifty day moving average price of $35.50 and a two-hundred day moving average price of $33.87.

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. The firm had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PINS shares. Royal Bank of Canada lifted their price objective on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. BMO Capital Markets began coverage on shares of Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price target on the stock. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, January 18th. Wedbush boosted their price target on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, KeyCorp boosted their price target on shares of Pinterest from $37.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.97.

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.