Raymond James Financial Inc. Invests $61.26 Million in Pinterest, Inc. (NYSE:PINS)

Raymond James Financial Inc. bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,112,449 shares of the company’s stock, valued at approximately $61,261,000.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of Pinterest by 2.1% during the fourth quarter. Arizona State Retirement System now owns 175,307 shares of the company’s stock worth $5,084,000 after buying an additional 3,595 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Pinterest during the fourth quarter worth approximately $545,000. Proficio Capital Partners LLC bought a new stake in shares of Pinterest during the fourth quarter worth approximately $1,926,000. Victory Capital Management Inc. raised its stake in shares of Pinterest by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 426,716 shares of the company’s stock worth $12,375,000 after buying an additional 12,431 shares during the last quarter. Finally, SWS Partners raised its stake in shares of Pinterest by 28.2% during the fourth quarter. SWS Partners now owns 144,364 shares of the company’s stock worth $4,187,000 after buying an additional 31,723 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PINS shares. KeyCorp boosted their price target on shares of Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price target on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, January 10th. Guggenheim upped their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Wedbush upped their target price on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Pinterest Trading Down 7.2 %

Shares of PINS opened at $31.85 on Tuesday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a fifty day simple moving average of $34.18 and a 200 day simple moving average of $32.27. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,879 shares of company stock worth $3,653,577 over the last quarter. 7.11% of the stock is currently owned by insiders.

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.