Royal London Asset Management Ltd. Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

Royal London Asset Management Ltd. raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 272,273 shares of the company’s stock after buying an additional 2,301 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Pinterest were worth $10,085,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. purchased a new position in Pinterest during the 4th quarter worth $1,606,000. Virtu Financial LLC purchased a new stake in shares of Pinterest during the fourth quarter worth about $212,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of Pinterest by 10.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after acquiring an additional 22,101 shares during the last quarter. Contour Asset Management LLC increased its holdings in shares of Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after acquiring an additional 2,023,500 shares in the last quarter. Finally, Oracle Alpha Inc. purchased a new position in shares of Pinterest in the 4th quarter valued at approximately $528,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Up 0.6 %

Shares of Pinterest stock traded up $0.28 on Friday, reaching $43.51. The company’s stock had a trading volume of 7,132,272 shares, compared to its average volume of 6,646,457. The company has a market capitalization of $29.72 billion, a P/E ratio of 207.20, a PEG ratio of 4.27 and a beta of 0.97. The stock has a 50-day moving average price of $39.11 and a 200-day moving average price of $37.20. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $44.64.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The company had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Sell-side analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PINS shares. Roth Mkm upped their price target on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Piper Sandler reaffirmed an “overweight” rating and set a $52.00 price target on shares of Pinterest in a research report on Friday. Citigroup increased their price objective on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets lifted their target price on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.34.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the transaction, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the transaction, the director now directly owns 29,712 shares of the company’s stock, valued at $1,255,332. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. Insiders sold 67,650 shares of company stock valued at $2,466,665 over the last 90 days. Corporate 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.