Semanteon Capital Management LP purchased a new stake in Pinterest, Inc. (NYSE:PINS – Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 28,181 shares of the company’s stock, valued at approximately $1,044,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. ARK Investment Management LLC raised its stake in shares of Pinterest by 152.3% during the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after purchasing an additional 872,016 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after purchasing an additional 323,547 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after acquiring an additional 77,974 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after buying an additional 1,089,299 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
Pinterest Trading Down 0.6 %
Shares of NYSE:PINS traded down $0.21 on Thursday, reaching $32.64. 17,084,716 shares of the company’s stock were exchanged, compared to its average volume of 9,510,697. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The company has a fifty day moving average of $34.61 and a 200-day moving average of $34.15. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of -543.91, a PEG ratio of 4.53 and a beta of 0.99.
Insider Buying and Selling
In other news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now directly owns 74,215 shares in the company, valued at approximately $2,789,741.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now directly owns 74,215 shares in the company, valued at $2,789,741.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,471 shares of company stock worth $6,525,231. Company insiders own 6.85% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on PINS shares. Royal Bank of Canada upped their price target on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Evercore ISI boosted their target price on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price objective on shares of Pinterest in a research note on Friday, February 9th. Roth Mkm raised their price objective on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $37.68.
About Pinterest
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.
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