Amundi Purchases 322,560 Shares of Pinterest, Inc. (NYSE:PINS)

Amundi raised its position in Pinterest, Inc. (NYSE:PINS) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,982,783 shares of the company’s stock after acquiring an additional 322,560 shares during the quarter. Amundi’s holdings in Pinterest were worth $61,209,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PINS. Point72 Asset Management L.P. bought a new position in Pinterest in the third quarter valued at about $153,829,000. Southpoint Capital Advisors LP bought a new position in Pinterest in the third quarter valued at about $123,006,000. Ontario Teachers Pension Plan Board lifted its holdings in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the period. Raymond James Financial Inc. bought a new position in Pinterest in the fourth quarter valued at about $61,261,000. Finally, Nordea Investment Management AB lifted its holdings in Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after acquiring an additional 2,093,248 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Rosenblatt Securities increased their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays upped their price target on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Oppenheimer upped their price target on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the sale, the director now directly owns 31,386 shares of the company’s stock, valued at $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,879 shares of company stock valued at $3,653,577. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 1.1 %

Shares of Pinterest stock opened at $31.41 on Wednesday. The stock has a 50 day moving average of $34.23 and a 200 day moving average of $32.27. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market cap of $21.31 billion, a PE ratio of 11.68, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS 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, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal 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.