LPL Financial LLC Purchases 15,164 Shares of Pinterest, Inc. (NYSE:PINS)

LPL Financial LLC grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 438,427 shares of the company’s stock after acquiring an additional 15,164 shares during the period. LPL Financial LLC owned about 0.06% of Pinterest worth $12,714,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Pinterest in the 3rd quarter worth approximately $153,829,000. Raymond James Financial Inc. purchased a new stake in Pinterest in the fourth quarter worth $61,261,000. Nordea Investment Management AB boosted its holdings in Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Pinterest by 582.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after purchasing an additional 1,934,653 shares during the period. Finally, Swedbank AB raised its holdings in Pinterest by 2,108.7% in the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock worth $38,137,000 after purchasing an additional 1,255,513 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PINS has been the topic of several research analyst reports. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, February 7th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Raymond James raised their target price on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Roth Capital set a $32.00 price target on Pinterest in a research note on Monday, February 3rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Pinterest Price Performance

PINS stock opened at $31.45 on Thursday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market cap of $21.33 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock’s fifty day moving average price is $34.64 and its 200-day moving average price is $32.43.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,753 shares of company stock valued at $11,640,201. Insiders own 7.11% of the company’s stock.

About Pinterest

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.