Royal London Asset Management Ltd. Purchases 14,942 Shares of Pinterest, Inc. (NYSE:PINS)

Royal London Asset Management Ltd. increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 293,402 shares of the company’s stock after purchasing an additional 14,942 shares during the period. Royal London Asset Management Ltd.’s holdings in Pinterest were worth $8,509,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PINS. Hantz Financial Services Inc. boosted its stake in Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after buying an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after acquiring an additional 342 shares during the period. Ethos Financial Group LLC raised its position in Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank grew its stake in shares of Pinterest by 0.9% in the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after purchasing an additional 372 shares during the period. Finally, Commerce Bank raised its holdings in shares of Pinterest by 3.3% in the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after buying an additional 378 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Wedbush lifted their price target on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Finally, TD Cowen assumed coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price on the stock. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.30.

Pinterest Trading Up 3.3 %

NYSE PINS opened at $32.45 on Monday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market capitalization of $22.01 billion, a PE ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02. The stock has a 50-day simple moving average of $34.39 and a 200 day simple moving average of $32.29.

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%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the transaction, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,812 shares of company stock valued at $6,798,857 over the last three months. 7.11% of the stock is currently owned by corporate insiders.

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.