321,569 Shares in Pinterest, Inc. (NYSE:PINS) Purchased by ING Groep NV

ING Groep NV acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 321,569 shares of the company’s stock, valued at approximately $9,326,000.

A number of other hedge funds have also modified their holdings of PINS. Blue Trust Inc. grew its stake in Pinterest by 244.6% in the third quarter. Blue Trust Inc. now owns 7,830 shares of the company’s stock valued at $253,000 after purchasing an additional 5,558 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Pinterest by 4,316.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 726,279 shares of the company’s stock valued at $23,510,000 after purchasing an additional 709,834 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares in the last quarter. International Assets Investment Management LLC grew its stake in Pinterest by 3,154.6% in the third quarter. International Assets Investment Management LLC now owns 29,845 shares of the company’s stock valued at $922,000 after purchasing an additional 28,928 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Pinterest by 115.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,371 shares of the company’s stock valued at $465,000 after purchasing an additional 7,700 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PINS. Wells Fargo & Company raised their price target on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Morgan Stanley raised their price objective on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, The Goldman Sachs Group raised their price objective on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at $972,338.28. The trade was a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $600,010 in the last 90 days. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $37.68 on Friday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The business’s fifty day moving average is $32.78 and its 200-day moving average is $31.78. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.90 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its quarterly 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 net margin of 51.07% and a return on equity of 8.10%. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.