Bronte Capital Management Pty Ltd. Has $52.40 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Bronte Capital Management Pty Ltd. lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,414,696 shares of the company’s stock after purchasing an additional 30,749 shares during the period. Pinterest comprises approximately 5.0% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 6th largest holding. Bronte Capital Management Pty Ltd.’s holdings in Pinterest were worth $52,400,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Pinterest by 12.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after buying an additional 1,043,173 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Pinterest by 26.0% in the 3rd quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock worth $184,357,000 after acquiring an additional 1,407,793 shares during the last quarter. FMR LLC raised its holdings in shares of Pinterest by 8.1% in the 3rd quarter. FMR LLC now owns 5,097,160 shares of the company’s stock worth $137,776,000 after acquiring an additional 381,837 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in Pinterest by 279,496.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after acquiring an additional 4,670,394 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

PINS stock traded up $0.02 during mid-day trading on Thursday, reaching $42.66. 6,098,398 shares of the company traded hands, compared to its average volume of 10,186,194. The company has a fifty day moving average price of $35.16 and a 200-day moving average price of $34.91. Pinterest, Inc. has a 52-week low of $21.02 and a 52-week high of $42.85. The company has a market capitalization of $29.14 billion, a P/E ratio of 202.38, a P/E/G ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. As a group, analysts forecast that Pinterest, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s 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 completion of the sale, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders sold a total of 164,471 shares of company stock valued at $5,773,431 in the last three months. Company insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PINS shares. KeyCorp lowered their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Stifel Nicolaus raised their price target on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

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.