SWS Partners Purchases 31,723 Shares of Pinterest, Inc. (NYSE:PINS)

SWS Partners raised its position in Pinterest, Inc. (NYSE:PINS) by 28.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,364 shares of the company’s stock after purchasing an additional 31,723 shares during the period. Pinterest makes up about 1.3% of SWS Partners’ investment portfolio, making the stock its 16th biggest holding. SWS Partners’ holdings in Pinterest were worth $4,187,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Maverick Capital Ltd. lifted its holdings in shares of Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after purchasing an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Pinterest by 8.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after buying an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after buying an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after acquiring an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Pinterest by 20.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,117 shares of company stock valued at $253,056. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $35.57 on Tuesday. The company’s 50-day moving average is $33.71 and its 200-day moving average is $32.18. The firm has a market capitalization of $24.12 billion, a PE ratio of 13.22, a PEG ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price objective on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Finally, Guggenheim raised their price target on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

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.