Geode Capital Management LLC Purchases 181,767 Shares of Pinterest, Inc. (NYSE:PINS)

Geode Capital Management LLC grew its holdings in Pinterest, Inc. (NYSE:PINS) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,648,352 shares of the company’s stock after purchasing an additional 181,767 shares during the quarter. Geode Capital Management LLC owned about 1.43% of Pinterest worth $279,281,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PINS. CIBC Private Wealth Group LLC lifted its stake in shares of Pinterest by 21.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 988,403 shares of the company’s stock valued at $30,512,000 after acquiring an additional 173,848 shares during the period. RWA Wealth Partners LLC boosted its stake in Pinterest by 3,349.3% during the 4th quarter. RWA Wealth Partners LLC now owns 259,385 shares of the company’s stock worth $7,522,000 after acquiring an additional 251,865 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Pinterest by 357.5% in the 4th quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock valued at $79,269,000 after buying an additional 2,125,010 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Pinterest in the 4th quarter valued at approximately $279,000. Finally, Allstate Corp bought a new position in Pinterest during the 4th quarter worth about $512,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PINS shares. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, January 10th. The Goldman Sachs Group lifted their price target on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Piper Sandler reissued a “neutral” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Pinterest Stock Down 6.3 %

PINS stock opened at $25.78 on Friday. The firm has a market capitalization of $17.49 billion, a PE ratio of 9.58, a P/E/G ratio of 1.95 and a beta of 0.99. The stock’s 50 day moving average is $34.40 and its 200-day moving average is $32.40. Pinterest, Inc. has a twelve month low of $24.91 and a twelve month high of $45.19.

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

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 453,836 shares of company stock valued at $14,832,336. Company insiders own 7.11% of the company’s stock.

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.