52,842 Shares in Pinterest, Inc. $PINS Purchased by Greenland Capital Management LP

Key Points

• Greenland Capital Management purchased 52,842 Pinterest shares worth approximately $1.11 million during the second quarter. Institutional investors collectively own 88.81% of Pinterest’s outstanding stock.
• Analysts remain mixed, with 18 Buy ratings and 19 Hold ratings; Pinterest has an average rating of Hold and an average price target of $27.90.
• Pinterest exceeded quarterly expectations, reporting $0.43 in EPS versus the $0.36 consensus and $1.18 billion in revenue, up 18.2% year over year. Meanwhile, insiders sold approximately $13.4 million of stock over the past 90 days.

Greenland Capital Management LP bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 52,842 shares of the company's stock, valued at approximately $1,111,000.

Several other institutional investors have also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its stake in shares of Pinterest by 15.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company's stock worth $719,994,000 after acquiring an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock worth $694,082,000 after purchasing an additional 6,258,628 shares in the last quarter. State Street Corp boosted its holdings in Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company's stock worth $556,432,000 after purchasing an additional 7,412,213 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company's stock worth $638,969,000 after purchasing an additional 2,319,964 shares during the last quarter. Finally, Norges Bank bought a new position in Pinterest in the fourth quarter valued at $357,945,000. Institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PINS shares. BMO Capital Markets boosted their price target on shares of Pinterest from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. TD Cowen restated a "buy" rating on shares of Pinterest in a report on Monday, June 22nd. Rosenblatt Securities lifted their target price on Pinterest from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Guggenheim upped their target price on Pinterest from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price target on Pinterest from $23.00 to $25.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Eighteen equities research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company's stock. According to MarketBeat, Pinterest currently has an average rating of "Hold" and an average target price of $27.90.

Insiders Place Their Bets

In related news, CFO Julia Donnelly sold 59,096 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the transaction, the chief financial officer directly owned 817,409 shares of the company's stock, valued at approximately $19,192,763.32. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Claude Leonard Brown sold 12,240 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $23.88, for a total value of $292,291.20. Following the completion of the sale, the insider owned 1,206,834 shares in the company, valued at approximately $28,819,195.92. This trade represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 602,219 shares of company stock worth $13,383,703 over the last ninety days. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Shares of PINS opened at $20.45 on Monday. The company has a market cap of $11.46 billion, a PE ratio of 60.15, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. The firm has a 50-day moving average of $22.92 and a 200-day moving average of $20.64. Pinterest, Inc. has a one year low of $13.84 and a one year high of $38.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the firm earned $0.33 EPS. Pinterest's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts forecast that Pinterest, Inc. will post 0.58 earnings per share for the current year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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