Banque Pictet & Cie SA Invests $334,000 in Pinterest, Inc. (NYSE:PINS)

Banque Pictet & Cie SA purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,510 shares of the company’s stock, valued at approximately $334,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PINS. Exchange Traded Concepts LLC boosted its position in shares of Pinterest by 52.3% during the third quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock worth $398,000 after purchasing an additional 4,223 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Pinterest during the third quarter worth $173,000. Swedbank AB raised its holdings in shares of Pinterest by 21.9% during the third quarter. Swedbank AB now owns 59,539 shares of the company’s stock worth $1,927,000 after acquiring an additional 10,703 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Pinterest by 3.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,729 shares of the company’s stock worth $3,876,000 after acquiring an additional 4,478 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Pinterest during the third quarter worth $37,000. 88.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 in the last quarter. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $38.96 on Friday. The company has a market capitalization of $26.33 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.72 and a beta of 1.06. The company has a 50-day simple moving average of $32.19 and a 200 day simple moving average of $31.55. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. Sell-side analysts forecast that Pinterest, Inc. will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James raised their price objective on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Morgan Stanley raised their price objective on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.86.

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.