Howe & Rusling Inc. Purchases 31,041 Shares of Pinterest, Inc. (NYSE:PINS)

Howe & Rusling Inc. grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,053 shares of the company’s stock after buying an additional 31,041 shares during the quarter. Howe & Rusling Inc.’s holdings in Pinterest were worth $4,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after acquiring an additional 156,748 shares during the period. Geode Capital Management LLC lifted its position in Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares during the period. Ninety One UK Ltd boosted its holdings in Pinterest by 5.4% in the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Pinterest in the third quarter worth approximately $153,829,000. Finally, ARK Investment Management LLC raised its stake in Pinterest by 0.4% during the 4th quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company’s stock valued at $127,210,000 after buying an additional 17,997 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

PINS stock opened at $32.96 on Thursday. The firm has a fifty day moving average price of $34.60 and a 200 day moving average price of $32.35. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market cap of $22.35 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 29,605 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $33.95, for a total value of $1,005,089.75. Following the completion of the sale, the chief financial officer now owns 166,408 shares of the company’s stock, valued at $5,649,551.60. This trade represents a 15.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 237,417 shares of company stock worth $7,803,946 over the last ninety days. Company insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of research reports. Morgan Stanley raised their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 10th. Barclays raised their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.33.

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.