Nisa Investment Advisors LLC Acquires 1,100 Shares of Pinterest, Inc. (NYSE:PINS)

Nisa Investment Advisors LLC lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,400 shares of the company’s stock after buying an additional 1,100 shares during the period. Nisa Investment Advisors LLC’s holdings in Pinterest were worth $978,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cohanzick Management LLC bought a new stake in Pinterest during the first quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its holdings in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Clear Street Markets LLC bought a new position in shares of Pinterest during the 3rd quarter valued at approximately $41,000. Blue Trust Inc. raised its holdings in Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after buying an additional 557 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its position in Pinterest by 5,138.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after buying an additional 1,850 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. KeyCorp increased their target price on shares of Pinterest from $37.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Wedbush increased their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on Pinterest from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, March 26th. Finally, Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.97.

Insider Activity at Pinterest

In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the transaction, the director now directly owns 34,215 shares of the company’s stock, valued at $1,200,262.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $36.52, for a total value of $70,629.68. Following the sale, the director now owns 37,448 shares in the company, valued at approximately $1,367,600.96. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock valued at $6,531,381 over the last 90 days. Insiders own 6.85% of the company’s stock.

Pinterest Trading Down 2.9 %

PINS opened at $32.58 on Tuesday. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of -543.00, a PEG ratio of 4.60 and a beta of 0.99. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $41.60. The stock has a fifty day moving average price of $35.50 and a 200-day moving average price of $33.87.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. On average, equities research analysts forecast that Pinterest, Inc. will post 0.36 EPS for the current 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.