Private Advisor Group LLC Has $1.87 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Private Advisor Group LLC grew its stake in Pinterest, Inc. (NYSE:PINS) by 612.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,543 shares of the company’s stock after purchasing an additional 55,482 shares during the quarter. Private Advisor Group LLC’s holdings in Pinterest were worth $1,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its stake in Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after buying an additional 313 shares during the period. International Assets Investment Management LLC raised its position in shares of Pinterest by 3,154.6% in the 3rd quarter. International Assets Investment Management LLC now owns 29,845 shares of the company’s stock valued at $922,000 after acquiring an additional 28,928 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Pinterest by 115.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,371 shares of the company’s stock worth $465,000 after acquiring an additional 7,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Pinterest by 174.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,440 shares of the company’s stock valued at $2,743,000 after purchasing an additional 53,713 shares during the period. Finally, Forsta AP Fonden increased its stake in Pinterest by 11.1% in the third quarter. Forsta AP Fonden now owns 128,800 shares of the company’s stock valued at $4,169,000 after purchasing an additional 12,900 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,117 shares of company stock valued at $253,056. Insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PINS shares. UBS Group reduced their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Barclays lifted their target price on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Morgan Stanley increased their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, January 10th. Finally, Roth Capital set a $32.00 target price on Pinterest in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Price Performance

NYSE:PINS opened at $36.69 on Wednesday. The firm’s fifty day moving average price is $33.05 and its two-hundred day moving average price is $31.94. The company has a market cap of $24.89 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share 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.