Corient Private Wealth LP Grows Stake in Pinterest, Inc. $PINS

Key Points

• Corient Private Wealth LP increased its Pinterest stake by 140.9% in the second quarter, bringing its holdings to 245,118 shares valued at approximately $5.2 million. Institutional investors collectively own 88.81% of Pinterest.
• Analysts raised their price targets following Pinterest’s latest results, with targets ranging from $25 to $34; however, the overall consensus remains “Hold” with a $27.90 target price.
• Pinterest beat quarterly expectations, reporting $0.43 in EPS and $1.18 billion in revenue, with revenue up 18.2% year over year. Despite the strong results, insiders sold more than 602,000 shares worth $13.2 million over the past 90 days.

Corient Private Wealth LP raised its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 140.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 245,118 shares of the company's stock after purchasing an additional 143,354 shares during the period. Corient Private Wealth LP's holdings in Pinterest were worth $5,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Pinterest during the 2nd quarter valued at approximately $648,000. Greenland Capital Management LP purchased a new position in shares of Pinterest in the 2nd quarter worth $1,111,000. AlphaGrep UK Ltd bought a new stake in Pinterest in the second quarter worth $278,000. Syon Capital LLC purchased a new stake in Pinterest in the 2nd quarter worth about $283,000. Finally, denkapparat Operations GmbH bought a new stake in shares of Pinterest during the 2nd quarter worth approximately $227,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on PINS shares. Guggenheim lifted their price objective on Pinterest from $24.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. BMO Capital Markets boosted their price target on Pinterest from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Rosenblatt Securities upped 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. UBS Group lifted their target price on shares of Pinterest from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley raised their price objective on Pinterest from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Eighteen research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.90.

Pinterest Stock Up 1.2%

Pinterest stock opened at $18.52 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $36.45. The stock has a 50-day simple moving average of $22.31 and a 200-day simple moving average of $20.76. The company has a market capitalization of $10.38 billion, a P/E ratio of 54.48, a PEG ratio of 1.20 and a beta of 0.90.

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

Insiders Place Their Bets

In other news, CFO Julia Donnelly sold 59,096 shares of the business's stock in a transaction dated Friday, August 7th. The shares were 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 in the company, valued at $19,192,763.32. The trade was a 6.74% decrease in their ownership of the stock. The sale was disclosed in a legal 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 stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $19.22, for a total value of $900,937.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 602,219 shares of company stock valued at $13,213,078. 8.09% of the stock is owned by company insiders.

Pinterest Company Profile

Pinterest, Inc NYSE: PINS operates a visual discovery and planning platform that helps people find ideas and inspiration across categories such as home design, food, fashion, travel and hobbies. Users can discover, save and organize images, videos and other content into collections called boards, as well as share ideas with others.

The company also provides tools for merchants, creators and advertisers. Businesses can use Pinterest to showcase products, reach audiences through visual advertising and direct users to websites or online shopping experiences.

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