Grantham Mayo Van Otterloo & Co. LLC Buys 78,699 Shares of Pinterest, Inc. $PINS

Key Points

• Grantham Mayo Van Otterloo & Co. LLC raised its Pinterest stake by 246.6% in Q3, purchasing 78,699 shares to own 110,607 shares worth about $3.56 million.
• Heavy institutional buying continues — Norges Bank opened a roughly $477.9 million position and firms like Balyasny, Victory and Vanguard materially increased holdings, leaving institutions with 88.81% ownership.
• Insiders have been net sellers (34,457 shares over three months; CFO sold 22,821 at $25.86), and analysts hold a consensus "Hold" with a $25.87 target after Pinterest slightly missed EPS and revenue expectations last quarter.

Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 246.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,607 shares of the company's stock after purchasing an additional 78,699 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Pinterest were worth $3,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Pinterest in the 2nd quarter worth approximately $477,853,000. Balyasny Asset Management L.P. lifted its holdings in shares of Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company's stock valued at $165,012,000 after buying an additional 4,230,125 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Pinterest by 18.5% in the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company's stock worth $685,899,000 after buying an additional 3,213,241 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Pinterest by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company's stock worth $1,961,933,000 after buying an additional 3,044,674 shares during the last quarter. Finally, Erste Asset Management GmbH grew its holdings in shares of Pinterest by 33,818.9% in the third quarter. Erste Asset Management GmbH now owns 2,510,000 shares of the company's stock worth $83,633,000 after acquiring an additional 2,502,600 shares during the period. Institutional investors own 88.81% of the company's stock.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm's stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the transaction, the chief financial officer owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $155,160.00. Following the completion of the sale, the insider directly owned 699,773 shares in the company, valued at approximately $18,096,129.78. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,457 shares of company stock valued at $876,925. 7.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research reports. Piper Sandler reiterated a "neutral" rating and set a $21.00 price objective (down from $33.00) on shares of Pinterest in a research report on Friday, February 13th. Cantor Fitzgerald set a $18.00 target price on Pinterest in a research report on Friday, February 13th. Oppenheimer cut their price target on Pinterest from $36.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Pinterest in a research report on Monday, December 29th. Finally, HSBC cut shares of Pinterest from a "buy" rating to a "hold" rating and set a $24.90 price objective on the stock. in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of "Hold" and a consensus target price of $25.87.

Pinterest Stock Down 1.6%

Shares of PINS stock opened at $19.68 on Tuesday. The stock has a market cap of $13.09 billion, a P/E ratio of 32.26, a PEG ratio of 1.32 and a beta of 0.93. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The company's fifty day simple moving average is $21.92 and its two-hundred day simple moving average is $27.73.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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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