Geode Capital Management LLC Has $288.87 Million Stake in Pinterest, Inc. $PINS

Key Points

• Geode Capital Management increased its Pinterest stake by 7.7% in the fourth quarter, adding 804,774 shares to reach 11.19 million shares valued at about $288.9 million.
• Wall Street sentiment remains mixed: analysts have a consensus “Hold” rating on Pinterest with an average target price of $27.40, even as several firms adjusted their price targets and outlooks.
• Pinterest reported a solid quarter, with EPS of $0.27 beating estimates and revenue of $1.01 billion topping expectations; revenue also rose 17.8% year over year.

Geode Capital Management LLC lifted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,188,981 shares of the company's stock after buying an additional 804,774 shares during the quarter. Geode Capital Management LLC owned about 1.66% of Pinterest worth $288,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Snowden Capital Advisors LLC grew its position in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company's stock worth $253,000 after buying an additional 296 shares during the period. EP Wealth Advisors LLC grew its position in shares of Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company's stock worth $340,000 after buying an additional 358 shares during the period. Central Pacific Bank Trust Division grew its position in shares of Pinterest by 0.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company's stock worth $2,484,000 after buying an additional 464 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of Pinterest by 5.5% in the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company's stock worth $265,000 after purchasing an additional 535 shares in the last quarter. Finally, Coyle Financial Counsel LLC lifted its holdings in shares of Pinterest by 5.8% in the 3rd quarter. Coyle Financial Counsel LLC now owns 10,002 shares of the company's stock worth $322,000 after purchasing an additional 551 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

PINS has been the topic of a number of recent research reports. Benchmark cut their target price on Pinterest from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $30.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Loop Capital cut Pinterest from a "buy" rating to a "hold" rating and cut their target price for the stock from $45.00 to $18.00 in a report on Friday, February 13th. Wells Fargo & Company increased their target price on Pinterest from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Rosenblatt Securities increased their target price on Pinterest from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of "Hold" and a consensus target price of $27.40.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director directly owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 4,200 shares of company stock worth $84,000. Insiders own 8.09% of the company's stock.

Pinterest Stock Performance

Shares of PINS stock opened at $21.45 on Tuesday. The firm has a 50-day moving average of $19.45 and a 200-day moving average of $21.89. The company has a market cap of $12.02 billion, a P/E ratio of 44.69, a P/E/G ratio of 1.08 and a beta of 0.93. 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, Inc. has a one year low of $13.84 and a one year high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Equities research analysts forecast that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Pinterest Company Profile

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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