TCW Group Inc. Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

TCW Group Inc. grew its position in Pinterest, Inc. (NYSE:PINSFree Report) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 625,003 shares of the company’s stock after purchasing an additional 17,359 shares during the period. TCW Group Inc.’s holdings in Pinterest were worth $23,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest in the fourth quarter valued at about $30,000. Washington Trust Advisors Inc. raised its holdings in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. Clear Street Markets LLC purchased a new stake in Pinterest during the third quarter worth about $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Pinterest during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction 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 transaction, the director now directly owns 29,712 shares of the company’s stock, valued at $1,255,332. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the transaction, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,405 shares of company stock valued at $5,855,142. 7.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI raised their price objective on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. KeyCorp decreased their price objective on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Susquehanna raised their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company raised their price objective on shares of Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $41.34.

View Our Latest Stock Analysis on Pinterest

Pinterest Stock Performance

Pinterest stock traded up $0.32 during mid-day trading on Friday, hitting $41.62. 1,651,812 shares of the company traded hands, compared to its average volume of 9,982,834. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 199.10, a price-to-earnings-growth ratio of 4.12 and a beta of 0.99. Pinterest, Inc. has a one year low of $23.35 and a one year high of $43.12. The stock has a fifty day moving average price of $36.63 and a 200-day moving average price of $35.99.

Pinterest (NYSE:PINSGet Free Report) last posted 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 firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Sell-side analysts predict that Pinterest, Inc. will post 0.43 EPS for the current year.

Pinterest Company 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.

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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)

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