Harvest Fund Management Co. Ltd Takes $43,000 Position in Pinterest, Inc. (NYSE:PINS)

Harvest Fund Management Co. Ltd acquired a new stake in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,153 shares of the company’s stock, valued at approximately $43,000.

Other large investors also recently modified their holdings of the company. Venture Visionary Partners LLC increased its position in Pinterest by 0.7% during the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after acquiring an additional 324 shares during the period. Washington Trust Advisors Inc. increased its position in 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 period. Creative Financial Designs Inc. ADV increased its position in Pinterest by 0.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after acquiring an additional 348 shares during the period. Allworth Financial LP increased its position in Pinterest by 17.7% during the fourth quarter. Allworth Financial LP now owns 2,856 shares of the company’s stock worth $106,000 after acquiring an additional 430 shares during the period. Finally, Blair William & Co. IL increased its position in Pinterest by 4.8% during the third quarter. Blair William & Co. IL now owns 10,139 shares of the company’s stock worth $274,000 after acquiring an additional 466 shares during the period. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PINS shares. KeyCorp reduced their price objective on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wedbush increased their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price objective on shares of Pinterest in a research note on Friday, February 9th. Royal Bank of Canada increased their price objective on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Pinterest Price Performance

NYSE:PINS opened at $33.97 on Friday. The firm’s 50 day simple moving average is $34.56 and its 200 day simple moving average is $34.14. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60. The company has a market cap of $23.06 billion, a PE ratio of -566.07, a P/E/G ratio of 4.47 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Equities research analysts expect that Pinterest, Inc. will post 0.36 EPS for the current year.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock worth $6,525,231 in the last quarter. 6.85% of the stock is owned by corporate insiders.

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.