2,112,449 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,112,449 shares of the company’s stock, valued at approximately $61,261,000. Raymond James Financial Inc. owned 0.31% of Pinterest as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after buying an additional 156,748 shares during the period. Geode Capital Management LLC boosted its stake in shares of Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after buying an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after buying an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after buying an additional 460,708 shares during the period. Finally, Ninety One UK Ltd boosted its stake in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after buying an additional 278,362 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PINS. Royal Bank of Canada lifted their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Raymond James lifted their price objective on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Morgan Stanley lifted their price objective on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Roth Capital set a $32.00 price objective on shares of Pinterest in a research note on Monday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,879 shares of company stock valued at $3,653,577 over the last quarter. 7.11% of the stock is owned by company insiders.

Pinterest Stock Down 7.2 %

NYSE PINS opened at $31.85 on Tuesday. The stock has a market cap of $21.60 billion, a P/E ratio of 11.84, a PEG ratio of 1.95 and a beta of 1.02. The company’s 50-day simple moving average is $34.18 and its 200 day simple moving average is $32.27. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last posted its 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%. Research analysts anticipate 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.