Prospect Financial Group LLC Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

Prospect Financial Group LLC bought a new position in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 236,792 shares of the company’s stock, valued at approximately $6,867,000. Pinterest accounts for 8.4% of Prospect Financial Group LLC’s investment portfolio, making the stock its 2nd largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Pinterest during the 3rd quarter worth $153,829,000. Southpoint Capital Advisors LP acquired a new stake in shares of Pinterest during the third quarter worth about $123,006,000. Raymond James Financial Inc. acquired a new stake in shares of Pinterest during the fourth quarter worth about $61,261,000. Nordea Investment Management AB lifted its holdings in shares of Pinterest by 122.1% during the 4th 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 in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Pinterest by 582.2% in the 4th 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. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PINS. Cantor Fitzgerald raised their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Wedbush lifted 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. Oppenheimer upped their price objective on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,417 shares of company stock worth $7,803,946 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $34.05 on Tuesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company 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. The stock has a fifty day moving average price of $34.46 and a 200-day moving average price of $32.31.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (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 predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.