R Squared Ltd Purchases New Shares in Pinterest, Inc. (NYSE:PINS)

R Squared Ltd acquired a new position in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,840 shares of the company’s stock, valued at approximately $169,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PINS. Point72 Asset Management L.P. bought a new position in Pinterest in the third quarter worth about $153,829,000. Southpoint Capital Advisors LP bought a new position in shares of Pinterest in the 3rd quarter worth approximately $123,006,000. Ontario Teachers Pension Plan Board lifted its stake in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. Nordea Investment Management AB boosted its position in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock worth $65,741,000 after purchasing an additional 1,934,653 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of research reports. TD Cowen began coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Raymond James cut their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Rosenblatt Securities cut their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by company insiders.

Pinterest Stock Up 1.0 %

NYSE PINS opened at $33.23 on Thursday. The company has a 50-day moving average price of $30.88 and a 200-day moving average price of $31.83. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market capitalization of $22.46 billion, a P/E ratio of 110.77, a PEG ratio of 1.61 and a beta of 1.04.

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.