Peregrine Asset Advisers Inc. Acquires Shares of 101,662 Pinterest, Inc. (NYSE:PINS)

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

Other hedge funds have also added to or reduced their stakes in the company. ARK Investment Management LLC grew its position in shares of Pinterest by 152.3% in the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after buying an additional 872,016 shares during the period. Nordea Investment Management AB lifted its stake in Pinterest by 57.9% during the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares during the period. Acadian Asset Management LLC boosted its position in shares of Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after purchasing an additional 1,089,299 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now directly 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 hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock valued at $5,773,431 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price 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. Wedbush upped their target price 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. Rosenblatt Securities restated a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Roth Mkm upped their target price on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Thursday, January 18th. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $41.26.

Pinterest Stock Up 2.4 %

PINS stock traded up $0.97 during trading on Monday, hitting $41.38. The company had a trading volume of 13,991,149 shares, compared to its average volume of 10,201,546. The firm has a market capitalization of $28.27 billion, a P/E ratio of 197.06, a PEG ratio of 4.02 and a beta of 0.99. Pinterest, Inc. has a 52-week low of $20.88 and a 52-week high of $41.60. The company has a 50 day simple moving average of $34.90 and a 200-day simple moving average of $34.68.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Sell-side analysts forecast that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Pinterest 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.