Peregrine Asset Advisers Inc. Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

Peregrine Asset Advisers Inc. acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 101,662 shares of the company’s stock, valued at approximately $3,766,000. Pinterest accounts for approximately 1.8% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors have also recently bought and sold shares of PINS. ARK Investment Management LLC lifted its stake in Pinterest by 152.3% in the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after buying an additional 872,016 shares in the last quarter. Nordea Investment Management AB lifted its stake in Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after buying an additional 323,547 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after buying an additional 77,974 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after buying an additional 1,089,299 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after buying an additional 62,117 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price objective on shares of Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. KeyCorp cut their price objective on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $41.26.

Insider Transactions at Pinterest

In other news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the transaction, the director now owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the transaction, the director now owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is currently owned by insiders.

Pinterest Price Performance

PINS traded up $0.97 on Monday, hitting $41.38. 13,991,149 shares of the stock were exchanged, compared to its average volume of 10,201,546. Pinterest, Inc. has a 12 month low of $20.88 and a 12 month high of $41.60. The business has a 50-day moving average of $34.90 and a two-hundred day moving average of $34.68. The firm has a market capitalization of $28.27 billion, a price-to-earnings ratio of 197.06, a PEG ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Equities research analysts expect that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.

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.