Boothe Investment Group Inc. Acquires Shares of 646,453 Pinterest, Inc. $PINS

Boothe Investment Group Inc. bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 646,453 shares of the company's stock, valued at approximately $11,856,000. Pinterest comprises approximately 3.8% of Boothe Investment Group Inc.'s holdings, making the stock its 7th largest holding. Boothe Investment Group Inc. owned approximately 0.12% of Pinterest as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Pinterest during the 4th quarter valued at about $357,945,000. State Street Corp boosted its holdings in shares of Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company's stock valued at $556,432,000 after acquiring an additional 7,412,213 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 acquiring an additional 6,258,628 shares during the period. Renaissance Technologies LLC grew its stake in shares of Pinterest by 271.1% in the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company's stock worth $109,831,000 after acquiring an additional 4,375,000 shares during the period. Finally, Davis Selected Advisers grew its stake in shares of Pinterest by 49.5% in the fourth quarter. Davis Selected Advisers now owns 11,801,983 shares of the company's stock worth $305,554,000 after acquiring an additional 3,909,926 shares during the period. Institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PINS shares. Wall Street Zen upgraded shares of Pinterest from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. TD Cowen reiterated a "buy" rating on shares of Pinterest in a research note on Monday, June 22nd. Mizuho boosted their price objective on Pinterest from $30.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Citigroup upped their target price on shares of Pinterest from $19.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Finally, Barclays increased their price objective on shares of Pinterest from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Seventeen investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $27.69.

Pinterest Price Performance

Pinterest stock opened at $24.48 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 51.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. The firm has a 50-day moving average of $21.61 and a two-hundred day moving average of $20.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same period last year, the business posted $0.23 EPS. Pinterest's quarterly revenue was up 17.8% on a year-over-year basis. On average, research analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current year.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $279,187.20. Following the transaction, the insider directly owned 691,840 shares of the company's stock, valued at $13,594,656. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total transaction of $1,056,562.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 370,720 shares of company stock valued at $7,892,627 in the last ninety days. Corporate insiders own 8.09% of the company's stock.

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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