Rakuten Securities Inc. Buys Shares of 809 Pinterest, Inc. (NYSE:PINS)

Rakuten Securities Inc. bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 809 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cohanzick Management LLC bought a new stake in Pinterest during the first quarter valued at $25,000. Washington Trust Advisors Inc. grew its position in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares during the last quarter. Blue Trust Inc. grew its position in shares of Pinterest by 87.7% during the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after acquiring an additional 557 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Pinterest by 396.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock worth $48,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Clear Street Markets LLC bought a new position in shares of Pinterest during the third quarter worth about $41,000. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock worth $6,525,231 in the last 90 days. Company insiders own 6.85% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of several recent research reports. Piper Sandler restated an “overweight” rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. BMO Capital Markets initiated coverage on shares of Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price target for the company. Royal Bank of Canada increased their target price on shares of Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Stifel Nicolaus increased their target price on shares of Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.97.

Pinterest Stock Up 0.4 %

PINS stock opened at $32.92 on Friday. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60. The firm has a 50-day moving average of $34.87 and a two-hundred day moving average of $33.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The company had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, equities research analysts predict that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

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.