Loomis Sayles & Co. L P Invests $10.20 Million in Pinterest, Inc. (NYSE:PINS)

Loomis Sayles & Co. L P acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, HoldingsChannel reports. The firm acquired 351,806 shares of the company’s stock, valued at approximately $10,202,000.

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

Pinterest Price Performance

PINS stock opened at $31.49 on Friday. The business’s fifty day moving average price is $34.66 and its two-hundred day moving average price is $32.39. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. 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 EPS 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%. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares in the company, valued at $195,497.84. The trade was a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,753 shares of company stock worth $11,640,201. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PINS shares. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Rosenblatt Securities increased their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Cantor Fitzgerald lifted their target price on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Barclays increased their price target on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Raymond James boosted their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

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.