Zevenbergen Capital Investments LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Zevenbergen Capital Investments LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 365,800 shares of the company’s stock, valued at approximately $10,608,000. Zevenbergen Capital Investments LLC owned 0.05% of Pinterest at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in shares of Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Pinterest by 2.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after buying an additional 342 shares during the period. Ethos Financial Group LLC increased its holdings in Pinterest by 3.1% during the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after buying an additional 350 shares during the last quarter. Amalgamated Bank raised its position in Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after acquiring an additional 372 shares during the period. Finally, Commerce Bank boosted its stake in shares of Pinterest by 3.3% during the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after acquiring an additional 378 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,812 shares of company stock worth $6,798,857. Company insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. TD Cowen started coverage on Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Trading Up 3.3 %

NYSE:PINS opened at $32.45 on Monday. The firm’s 50 day moving average is $34.39 and its 200 day moving average is $32.29. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market capitalization of $22.01 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current 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.