Wellington Management Group LLP Buys 5,524,796 Shares of Pinterest, Inc. (NYSE:PINS)

Wellington Management Group LLP raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 1,188.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,989,476 shares of the company’s stock after purchasing an additional 5,524,796 shares during the quarter. Wellington Management Group LLP owned 0.88% of Pinterest worth $221,850,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of 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 during the period. Franklin Resources Inc. boosted its position in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Pinterest by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after acquiring an additional 1,043,173 shares in the last quarter. Capital World Investors boosted its position in shares of Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Pinterest by 17.3% during the 4th quarter. Clearbridge Investments LLC now owns 8,003,201 shares of the company’s stock valued at $296,439,000 after acquiring an additional 1,182,758 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now directly owns 189,470 shares in the company, valued at $8,317,733. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now directly owns 189,470 shares in the company, valued at $8,317,733. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,221 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $35.45, for a total transaction of $1,071,334.45. Following the sale, the chief financial officer now owns 327,358 shares in the company, valued at $11,604,841.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,561 shares of company stock worth $2,569,511. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of NYSE PINS opened at $44.21 on Wednesday. The company’s 50 day simple moving average is $39.51 and its 200 day simple moving average is $37.38. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $44.76. The firm has a market capitalization of $30.20 billion, a P/E ratio of 210.53, a P/E/G ratio of 4.27 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Sell-side analysts expect that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PINS. Citigroup lifted their target price on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. BMO Capital Markets lifted their target price on shares of Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Wedbush boosted their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Roth Mkm upped their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.34.

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.