Pier Capital LLC Has $784,000 Position in Pinterest, Inc. (NYSE:PINS)

Pier Capital LLC lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 95.6% during the fourth quarter, HoldingsChannel reports. The firm owned 27,023 shares of the company’s stock after purchasing an additional 13,208 shares during the period. Pier Capital LLC’s holdings in Pinterest were worth $784,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in Pinterest by 7.4% during the third quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock worth $297,000 after buying an additional 635 shares in the last quarter. Quest Partners LLC lifted its stake in Pinterest by 1,109.4% during the third quarter. Quest Partners LLC now owns 9,796 shares of the company’s stock worth $317,000 after purchasing an additional 8,986 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Pinterest during the third quarter worth about $458,000. Commerce Bank grew its position in Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after acquiring an additional 378 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after buying an additional 32,539 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Piper Sandler restated a “neutral” rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Oppenheimer raised their price target on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Rosenblatt Securities boosted their price objective on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.33.

Pinterest Stock Up 5.0 %

Shares of NYSE:PINS opened at $34.05 on Tuesday. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company’s fifty day simple moving average is $34.46 and its 200 day simple moving average is $32.31.

Pinterest (NYSE:PINS) last released its quarterly 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%. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 29,605 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.95, for a total transaction of $1,005,089.75. Following the completion of the sale, the chief financial officer now directly owns 166,408 shares in the company, valued at approximately $5,649,551.60. This represents a 15.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 237,417 shares of company stock valued at $7,803,946. 7.11% of the stock is owned by 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.