Vestmark Advisory Solutions Inc. Has $4.01 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

Vestmark Advisory Solutions Inc. lifted its position in Pinterest, Inc. (NYSE:PINS) by 24.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 132,315 shares of the company’s stock after purchasing an additional 25,929 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Pinterest were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Maverick Capital Ltd. increased its holdings in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after buying an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after buying an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its holdings in Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after buying an additional 68,096 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PINS shares. Wells Fargo & Company boosted their price target on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Guggenheim upped their target price on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.47.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the 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 sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,117 shares of company stock worth $253,056 in the last ninety days. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of NYSE:PINS opened at $34.51 on Friday. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.95 and a beta of 1.02. The firm’s 50 day simple moving average is $34.03 and its 200 day simple moving average is $32.25. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results 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%. Equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current 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.