SBI Securities Co. Ltd. Makes New $5 Million Investment in Pinterest, Inc. (NYSE:PINS)

SBI Securities Co. Ltd. bought a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, HoldingsChannel reports. The fund bought 172,285 shares of the company’s stock, valued at approximately $4,996,000.

Several other hedge funds also recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in shares of Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after purchasing an additional 11,925 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Pinterest by 1,045.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,941 shares of the company’s stock valued at $114,000 after purchasing an additional 3,597 shares during the period. Norden Group LLC boosted its stake in shares of Pinterest by 25.4% in the fourth quarter. Norden Group LLC now owns 20,055 shares of the company’s stock valued at $582,000 after purchasing an additional 4,067 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Pinterest by 20.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company’s stock valued at $75,000 after purchasing an additional 429 shares during the period. Finally, Chase Investment Counsel Corp purchased a new position in shares of Pinterest in the fourth quarter valued at approximately $5,469,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PINS. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Roth Mkm reduced their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 target price (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Barclays raised their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction 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 directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction 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 sale, the director now owns 30,236 shares in the company, valued at $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. Insiders have sold a total of 7,117 shares of company stock worth $253,056 in the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

NYSE:PINS opened at $37.02 on Friday. The firm’s fifty day moving average price is $33.59 and its 200 day moving average price is $32.11. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market cap of $25.10 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

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

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.