Aigen Investment Management LP Makes New $545,000 Investment in Pinterest, Inc. (NYSE:PINS)

Aigen Investment Management LP bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, HoldingsChannel reports. The fund bought 18,794 shares of the company’s stock, valued at approximately $545,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PINS. Point72 Asset Management L.P. acquired a new stake in Pinterest in the third quarter valued at $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest in the third quarter valued at $123,006,000. Ontario Teachers Pension Plan Board increased its holdings in Pinterest by 51.5% in the third 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 increased its holdings in Pinterest by 122.1% in 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 during the period. Finally, Assenagon Asset Management S.A. increased its holdings 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 valued at $65,741,000 after purchasing an additional 1,934,653 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,189 shares of company stock valued at $3,433,811 in the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Shares of NYSE PINS opened at $34.37 on Friday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.95 and a beta of 1.02. The firm’s 50-day simple moving average is $34.13 and its 200 day simple moving average is $32.27.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent research reports. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James increased their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Robert W. Baird decreased their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.