Allianz Asset Management GmbH Acquires 493,786 Shares of Pinterest, Inc. (NYSE:PINS)

Allianz Asset Management GmbH increased its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 340.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 638,900 shares of the company's stock after buying an additional 493,786 shares during the period. Allianz Asset Management GmbH owned about 0.09% of Pinterest worth $19,806,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD grew its position in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. FMR LLC lifted its holdings in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after acquiring an additional 316,633 shares during the last quarter. Norges Bank acquired a new stake in Pinterest in the 4th quarter valued at about $358,205,000. Finally, Marshall Wace LLP raised its holdings in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after buying an additional 6,129,985 shares during the period. Institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the sale, the chief financial officer owned 362,890 shares in the company, valued at $12,428,982.50. This represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider owned 390,230 shares in the company, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,502,611 shares of company stock worth $51,602,943. Insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PINS. Oppenheimer lifted their price objective on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. UBS Group raised their target price on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Citigroup restated a "buy" rating and issued a $44.00 target price (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Finally, Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.81.

Pinterest Stock Performance

NYSE PINS traded up $0.23 during trading on Monday, hitting $38.14. The stock had a trading volume of 1,652,350 shares, compared to its average volume of 11,692,693. The company has a market capitalization of $25.86 billion, a PE ratio of 13.93, a P/E/G ratio of 1.90 and a beta of 0.94. The company's 50-day moving average price is $34.65 and its two-hundred day moving average price is $32.62. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The company's revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.