ARK Investment Management LLC Acquires 872,016 Shares of Pinterest, Inc. (NYSE:PINS)

ARK Investment Management LLC boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 152.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,444,579 shares of the company’s stock after acquiring an additional 872,016 shares during the quarter. ARK Investment Management LLC owned 0.21% of Pinterest worth $53,507,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Pinterest by 57.9% in 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 in the last quarter. Acadian Asset Management LLC lifted its position in shares of Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after buying an additional 1,089,299 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Pinterest by 332.7% during the 2nd quarter. Trexquant Investment LP now owns 62,650 shares of the company’s stock worth $1,713,000 after buying an additional 48,172 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Pinterest by 1,059.5% during the 3rd quarter. National Bank of Canada FI now owns 85,723 shares of the company’s stock worth $2,318,000 after buying an additional 78,330 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Pinterest during the 3rd quarter worth approximately $1,387,000. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Roth Mkm raised their price target on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Stifel Nicolaus raised their price target on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Wedbush raised their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets assumed coverage on shares of Pinterest in a research note on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price target for the company. Seven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.80.

Pinterest Price Performance

Pinterest stock opened at $34.87 on Thursday. The firm has a fifty day simple moving average of $36.27 and a two-hundred day simple moving average of $33.14. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60.

Pinterest (NYSE:PINS) last posted its quarterly earnings results 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. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. As a group, research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were 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 approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders sold 154,250 shares of company stock valued at $5,484,246 over the last three months. Insiders own 6.85% 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.