Engineers Gate Manager LP Has $3.85 Million Position in Pinterest, Inc. $PINS

Key Points

• Engineers Gate Manager LP increased its Pinterest stake by 89.7% in the second quarter, owning 183,035 shares valued at approximately $3.85 million.
• Institutional investors and hedge funds collectively own 88.81% of Pinterest, while insiders have sold 602,219 shares worth about $13.3 million over the past 90 days.
• Pinterest exceeded quarterly expectations with adjusted earnings of $0.43 per share and revenue of $1.18 billion, up 18.2% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $27.90.

Engineers Gate Manager LP lifted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 89.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,035 shares of the company's stock after purchasing an additional 86,560 shares during the quarter. Engineers Gate Manager LP's holdings in Pinterest were worth $3,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company's stock valued at $719,994,000 after buying an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Pinterest by 30.5% in the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock valued at $694,082,000 after acquiring an additional 6,258,628 shares during the last quarter. State Street Corp lifted its stake in shares of Pinterest by 52.6% in 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. Ameriprise Financial Inc. boosted its holdings in shares of Pinterest by 15.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company's stock valued at $638,969,000 after acquiring an additional 2,319,964 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Pinterest during the 4th quarter valued at $357,945,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other news, CFO Julia Donnelly sold 59,096 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $23.48, for a total value of $1,387,574.08. Following the transaction, the chief financial officer owned 817,409 shares in the company, valued at approximately $19,192,763.32. The trade was a 6.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 93,750 shares of the company's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total transaction of $2,009,062.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 602,219 shares of company stock valued at $13,303,546. Company insiders own 8.09% of the company's stock.

Pinterest Stock Up 0.9%

Shares of PINS opened at $18.95 on Friday. The stock's 50-day moving average price is $22.68 and its two-hundred day moving average price is $20.70. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $37.05. The company has a market capitalization of $10.62 billion, a PE ratio of 55.74, a PEG ratio of 1.25 and a beta of 0.90. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The business's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, analysts anticipate that Pinterest, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

PINS has been the subject of a number of recent research reports. BMO Capital Markets upped their target price on Pinterest from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Guggenheim lifted their price target on Pinterest from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Morgan Stanley upped their price objective on Pinterest from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Wedbush reiterated a "neutral" rating and issued a $24.00 price objective on shares of Pinterest in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Pinterest from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Eighteen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.90.

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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