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

Loomis Sayles & Co. L P bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 351,806 shares of the company’s stock, valued at approximately $10,202,000. Loomis Sayles & Co. L P owned approximately 0.05% of Pinterest as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Howe & Rusling Inc. grew its holdings in shares of Pinterest by 23.3% during the 4th quarter. Howe & Rusling Inc. now owns 164,053 shares of the company’s stock worth $4,758,000 after purchasing an additional 31,041 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in Pinterest during the fourth quarter worth $1,131,000. Elo Mutual Pension Insurance Co increased its holdings in Pinterest by 14.4% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 60,913 shares of the company’s stock valued at $1,766,000 after buying an additional 7,675 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Pinterest by 18.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 844,057 shares of the company’s stock valued at $26,115,000 after buying an additional 131,521 shares in the last quarter. Finally, Korea Investment CORP lifted its holdings in shares of Pinterest by 63.4% during the 4th quarter. Korea Investment CORP now owns 978,467 shares of the company’s stock worth $28,376,000 after acquiring an additional 379,619 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of NYSE PINS opened at $31.49 on Friday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market capitalization of $21.35 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02. The company’s 50 day simple moving average is $34.66 and its 200 day simple moving average is $32.39.

Pinterest (NYSE:PINS) last posted 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 return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PINS shares. Barclays increased their price target on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Wedbush boosted their price target on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Finally, Rosenblatt Securities boosted their target price on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the transaction, the insider now owns 228,510 shares of the company’s stock, valued at approximately $7,367,162.40. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,753 shares of company stock worth $11,640,201. Insiders own 7.11% of the company’s stock.

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.