Skopos Labs Inc. Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Skopos Labs Inc. purchased a new position in Pinterest, Inc. (NYSE:PINSFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,026 shares of the company’s stock, valued at approximately $223,000.

A number of other large investors have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter valued at about $241,229,000. Fred Alger Management LLC grew its holdings in shares of Pinterest by 279,496.9% during the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after buying an additional 4,670,394 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after buying an additional 3,390,924 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Pinterest by 26.0% during the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock valued at $184,357,000 after buying an additional 1,407,793 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wedbush raised their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Roth Mkm raised their price target on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. BMO Capital Markets raised their price target on shares of Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Finally, Sanford C. Bernstein raised their price target on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.34.

Check Out Our Latest Stock Analysis on Pinterest

Pinterest Stock Up 0.3 %

NYSE:PINS traded up $0.14 during mid-day trading on Friday, hitting $41.44. 4,335,044 shares of the stock traded hands, compared to its average volume of 12,289,515. The business’s 50-day moving average price is $36.78 and its 200 day moving average price is $36.06. The company has a market cap of $28.31 billion, a PE ratio of 197.34, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99. Pinterest, Inc. has a 12-month low of $23.35 and a 12-month high of $43.12.

Pinterest (NYSE:PINSGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The business had revenue of $739.98 million during the quarter, compared to analysts’ expectations of $699.96 million. Analysts anticipate that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the sale, the director now directly owns 54,215 shares in the company, valued at approximately $1,986,979.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the sale, the director now owns 29,712 shares of the company’s stock, valued at $1,255,332. The disclosure for this sale can be found here. Insiders sold a total of 166,405 shares of company stock valued at $5,855,142 in the last quarter. Corporate insiders own 7.11% of the company’s stock.

Pinterest Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINSFree Report).

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.