Russell Investments Group Ltd. Buys 68,414 Shares of Pinterest, Inc. (NYSE:PINS)

Russell Investments Group Ltd. lifted its stake in Pinterest, Inc. (NYSE:PINS) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 444,512 shares of the company’s stock after acquiring an additional 68,414 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pinterest were worth $16,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. bought a new position in shares of Pinterest in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. boosted its holdings in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new stake in Pinterest during the third quarter valued at approximately $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Pinterest during the fourth quarter valued at approximately $43,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest 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 owns 34,215 shares in the company, valued at approximately $1,200,262.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,471 shares of company stock valued at $5,773,431. Company insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Wednesday. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Finally, Piper Sandler raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.82.

Pinterest Stock Down 0.2 %

PINS stock opened at $40.40 on Friday. The firm has a market capitalization of $27.43 billion, a P/E ratio of 192.39, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60. The company has a fifty day simple moving average of $34.79 and a two-hundred day simple moving average of $34.48.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. As a group, analysts anticipate that Pinterest, Inc. will post 0.37 EPS for the current 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.