Los Angeles Capital Management LLC Buys 1,368,927 Shares of Pinterest, Inc. (NYSE:PINS)

Los Angeles Capital Management LLC boosted its position in Pinterest, Inc. (NYSE:PINS) by 2,666.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,420,258 shares of the company’s stock after acquiring an additional 1,368,927 shares during the period. Los Angeles Capital Management LLC owned 0.21% of Pinterest worth $52,606,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Pinterest during the fourth quarter worth $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest in the 4th quarter worth about $30,000. Washington Trust Advisors Inc. increased its holdings in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of Pinterest during the 3rd quarter valued at approximately $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Pinterest in the fourth quarter worth $43,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Down 0.2 %

Shares of PINS traded down $0.10 during mid-day trading on Friday, reaching $40.40. The company’s stock had a trading volume of 9,683,897 shares, compared to its average volume of 10,157,501. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60. The company’s fifty day moving average price is $34.79 and its two-hundred day moving average price is $34.48. The stock has a market cap of $27.43 billion, a PE ratio of 192.39, a P/E/G ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current year.

Insider Activity at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 in the last ninety days. 7.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Evercore ISI upped their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Wells Fargo & Company upped their price target on shares of Pinterest from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna lifted their price objective on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Stifel Nicolaus increased their target price on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, KeyCorp cut their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.82.

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.