Impax Asset Management Group plc Increases Stake in Pinterest, Inc. (NYSE:PINS)

Impax Asset Management Group plc increased its position in Pinterest, Inc. (NYSE:PINS) by 44.4% in the 4th quarter, HoldingsChannel reports. The fund owned 72,840 shares of the company’s stock after purchasing an additional 22,403 shares during the period. Impax Asset Management Group plc’s holdings in Pinterest were worth $2,112,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after purchasing an additional 313 shares during the period. Hantz Financial Services Inc. boosted its stake in Pinterest by 3.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the period. Commerce Bank boosted its stake in Pinterest by 3.3% in the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of Pinterest stock opened at $36.69 on Wednesday. The business’s 50 day simple moving average is $33.05 and its two-hundred day simple moving average is $31.94. The stock has a market capitalization of $24.89 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

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

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,117 shares of company stock valued at $253,056. Company insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of several analyst reports. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Piper Sandler reiterated a “neutral” rating and set a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Barclays lifted 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. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.

Pinterest Company 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.