Pinterest, Inc. $PINS Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,867,869 shares of the company’s stock after purchasing an additional 242,283 shares during the quarter. Jennison Associates LLC owned about 0.57% of Pinterest worth $124,429,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Snowden Capital Advisors LLC raised its position in Pinterest by 4.4% during the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the last quarter. Penserra Capital Management LLC lifted its position in Pinterest by 10.1% during the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after buying an additional 300 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Pinterest by 3.9% in the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after acquiring an additional 358 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Pinterest by 3.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after purchasing an additional 359 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its holdings in Pinterest by 5.8% in the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider owned 301,214 shares in the company, valued at $8,099,644.46. The trade was a 19.73% decrease in their ownership of the stock. 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 22,821 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This trade represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 105,161 shares of company stock worth $2,796,466 in the last quarter. 7.06% of the stock is owned by company insiders.

Pinterest Stock Performance

PINS opened at $25.92 on Friday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The company has a market capitalization of $17.51 billion, a PE ratio of 9.00, a P/E/G ratio of 1.21 and a beta of 0.91. The stock’s fifty day moving average is $26.24 and its 200-day moving average is $31.66.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.04). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

PINS has been the subject of several research reports. Sanford C. Bernstein decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley lifted their price objective on Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Cantor Fitzgerald cut their target price on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company reduced their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.64.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.