Aberdeen Group plc Boosts Stake in Pinterest, Inc. $PINS

Key Points

• Aberdeen Group plc increased its stake in Pinterest, Inc. by 5.9% during the 2nd quarter, now owning 285,736 shares valued at approximately $10.2 million.
• Other institutional investors have also significantly increased their shares in Pinterest, leading to a combined ownership of 88.81% of the company by hedge funds and institutional investors.
• Pinterest's stock currently has a moderate buy rating with an average price target of $42.67, as several analysts raised their price targets recently, reflecting positive sentiment towards the company.

Aberdeen Group plc grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 285,736 shares of the company's stock after buying an additional 15,844 shares during the quarter. Aberdeen Group plc's holdings in Pinterest were worth $10,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PINS. Amundi raised its position in Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after purchasing an additional 12,271,958 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock worth $988,662,000 after purchasing an additional 6,460,143 shares during the last quarter. Swedbank AB lifted its stake in Pinterest by 344.0% in the first quarter. Swedbank AB now owns 5,839,485 shares of the company's stock worth $181,024,000 after purchasing an additional 4,524,433 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Pinterest by 4,673.9% in the first quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company's stock worth $78,484,000 after purchasing an additional 2,478,708 shares during the last quarter. Finally, Congress Asset Management Co. bought a new stake in Pinterest in the second quarter worth $82,516,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the sale, the chief accounting officer owned 157,402 shares of the company's stock, valued at $5,502,773.92. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale can be found here. Insiders sold 762,319 shares of company stock valued at $27,523,976 in the last three months. Corporate insiders own 7.06% of the company's stock.

Pinterest Price Performance

PINS stock opened at $33.33 on Thursday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The company has a market cap of $22.66 billion, a P/E ratio of 11.95, a PEG ratio of 1.39 and a beta of 0.81. The firm has a 50-day moving average of $34.89 and a 200 day moving average of $33.12.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The company had revenue of $665.93 million during the quarter. On average, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on PINS shares. Monness Crespi & Hardt boosted their price target on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Sanford C. Bernstein boosted their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Susquehanna reissued a "positive" rating and issued a $42.00 price target on shares of Pinterest in a research note on Friday, August 8th. Oppenheimer restated an "outperform" rating on shares of Pinterest in a research report on Friday, August 8th. Finally, Cowen restated a "buy" rating on shares of Pinterest in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.67.

Pinterest Company 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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.