International Assets Investment Management LLC Acquires 77,974 Shares of Pinterest, Inc. (NYSE:PINS)

International Assets Investment Management LLC boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 3,402.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,266 shares of the company’s stock after acquiring an additional 77,974 shares during the quarter. International Assets Investment Management LLC’s holdings in Pinterest were worth $2,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Pinterest by 1.9% in the first quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after acquiring an additional 958,619 shares during the period. BlackRock Inc. grew its stake in Pinterest by 7.4% during the first quarter. BlackRock Inc. now owns 33,930,328 shares of the company’s stock worth $925,280,000 after buying an additional 2,349,424 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 28.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,743,947 shares of the company’s stock worth $702,039,000 after buying an additional 5,670,073 shares during the last quarter. Macquarie Group Ltd. grew its stake in Pinterest by 1.5% during the second quarter. Macquarie Group Ltd. now owns 13,145,182 shares of the company’s stock worth $238,716,000 after buying an additional 191,507 shares during the last quarter. Finally, State Street Corp grew its stake in Pinterest by 2.0% during the first quarter. State Street Corp now owns 12,143,900 shares of the company’s stock worth $298,861,000 after buying an additional 235,403 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Roth Mkm upped their price objective on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Susquehanna upped their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Evercore ISI upped their price objective on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Piper Sandler reissued an “overweight” rating and set a $48.00 price target on shares of Pinterest in a research note on Tuesday, March 26th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 price target on shares of Pinterest in a research note 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. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $37.97.

Insider Transactions at Pinterest

In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now directly owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction on 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 directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the sale, the director now directly owns 74,215 shares in the company, valued at $2,789,741.85. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 over the last three months. 6.85% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $32.92 on Friday. The firm’s 50 day moving average price is $34.87 and its two-hundred day moving average price is $33.93. The stock has a market cap of $22.35 billion, a PE ratio of -548.49, a PEG ratio of 4.48 and a beta of 0.99. Pinterest, Inc. has a 52-week low of $20.60 and a 52-week high of $41.60.

Pinterest (NYSE:PINS) last announced its quarterly 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 company had revenue of $981.26 million for the quarter, compared to analysts’ expectations 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 predict that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

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.