67,702 Shares in Pinterest, Inc. $PINS Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a Pinterest position, purchasing 67,702 shares worth approximately $1.28 million in the third quarter. Institutional investors own 88.81% of the company’s shares.
• Pinterest’s latest quarterly results fell short of forecasts: EPS was $0.46 versus $0.49 expected, and revenue was $1.17 billion versus $1.21 billion expected, though revenue rose 11.9% year over year.
• Insiders sold 680,656 shares worth about $14.28 million over the past 90 days. Analysts’ consensus rating is Hold, with an average price target of $25.97.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 67,702 shares of the company's stock, valued at approximately $1,279,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PINS. Resona Asset Management Co. Ltd. boosted its stake in shares of Pinterest by 0.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 173,648 shares of the company's stock worth $3,176,000 after acquiring an additional 785 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Pinterest by 3.2% during the 3rd quarter. D.A. Davidson & CO. now owns 39,472 shares of the company's stock valued at $746,000 after acquiring an additional 1,218 shares during the period. GAMMA Investing LLC increased its stake in shares of Pinterest by 13.6% in the 2nd quarter. GAMMA Investing LLC now owns 10,929 shares of the company's stock worth $230,000 after purchasing an additional 1,308 shares in the last quarter. Allworth Financial LP increased its stake in shares of Pinterest by 8.7% in the 2nd quarter. Allworth Financial LP now owns 16,941 shares of the company's stock worth $356,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Pinterest by 31.7% in the 1st quarter. Parallel Advisors LLC now owns 5,780 shares of the company's stock worth $106,000 after purchasing an additional 1,390 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Claude Leonard Brown sold 12,240 shares of the business's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $20.00, for a total value of $244,800.00. Following the transaction, the insider directly owned 1,130,768 shares in the company, valued at $22,615,360. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Julia Donnelly sold 29,548 shares of the company's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $18.61, for a total value of $549,888.28. Following the completion of the transaction, the chief financial officer directly owned 751,921 shares of the company's stock, valued at approximately $13,993,249.81. This trade represents a 3.78% 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 sold 680,656 shares of company stock valued at $14,279,677 in the last ninety days. Insiders own 8.09% of the company's stock.

Pinterest Stock Down 4.1%

Shares of PINS stock opened at $18.99 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.28 and a quick ratio of 4.28. Pinterest, Inc. has a one year low of $13.84 and a one year high of $27.96. The company's fifty day moving average price is $20.32 and its 200-day moving average price is $20.63. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 75.94, a PEG ratio of 1.52 and a beta of 0.98.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). Pinterest had a return on equity of 6.58% and a net margin of 3.81%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company posted $0.38 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that Pinterest, Inc. will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PINS. Phillip Securities upgraded Pinterest to a "strong-buy" rating in a research report on Monday, October 19th. Susquehanna cut their price target on Pinterest from $32.00 to $25.00 and set a "positive" rating for the company in a report on Friday, October 30th. Zacks Research cut Pinterest from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 13th. Evercore set a $24.00 price objective on Pinterest in a research note on Friday, October 30th. Finally, Robert W. Baird raised their price objective on Pinterest from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.97.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps people find ideas and plan projects across interests such as home décor, food, fashion, travel and personal style. Users can save images and videos, known as Pins, to collections called boards and explore related recommendations through the company's website and mobile apps.

The company generates revenue primarily through advertising. Its advertising products allow businesses to promote content to users, while shopping features and tools help merchants showcase products and connect with people as they explore ideas and make plans.

Founded in 2010 by Ben Silbermann, Evan Sharp and Paul Sciarra, Pinterest is headquartered in San Francisco and serves users in markets around the world.

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