Rakuten Securities Inc. Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Rakuten Securities Inc. bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, HoldingsChannel.com reports. The firm bought 809 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Acadian Asset Management LLC boosted its holdings in Pinterest by 21.9% during the first quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock worth $334,000 after buying an additional 2,437 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Pinterest in the 1st quarter valued at approximately $906,000. Raymond James Trust N.A. grew its position in shares of Pinterest by 29.0% in the 1st quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock valued at $279,000 after purchasing an additional 2,550 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pinterest by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock valued at $12,118,000 after purchasing an additional 51,318 shares during the period. Finally, Sei Investments Co. grew its position in shares of Pinterest by 261.5% in the 1st quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock valued at $6,691,000 after purchasing an additional 198,153 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now directly owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated 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 sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock valued at $6,525,231 over the last ninety days. 6.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PINS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Pinterest in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their price objective on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, January 18th. Finally, KeyCorp increased their price target on Pinterest from $37.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $37.97.

Pinterest Stock Up 0.4 %

NYSE:PINS opened at $32.92 on Friday. The stock’s 50-day simple moving average is $34.87 and its 200 day simple moving average is $33.93. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.36 EPS for the current year.

Pinterest 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.