Headlands Technologies LLC Lowers Holdings in Pinterest, Inc. $PINS

Key Points

• Headlands Technologies LLC has reduced its stake in Pinterest, Inc. by 89.5%, now owning only 1,111 shares after selling 9,513 shares during the first quarter.
• Several institutional investors have increased their holdings in Pinterest, with 88.81% of the company's stock now owned by hedge funds and other institutional investors.
• Analysts have a bullish outlook on Pinterest, with multiple firms raising their target prices and a consensus rating of "Moderate Buy" with a price target of $42.40.

Headlands Technologies LLC lessened its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 89.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,111 shares of the company's stock after selling 9,513 shares during the period. Headlands Technologies LLC's holdings in Pinterest were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PINS. Revolve Wealth Partners LLC purchased a new position in Pinterest during the 4th quarter valued at about $252,000. Envestnet Asset Management Inc. grew its holdings in Pinterest by 2.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 617,569 shares of the company's stock valued at $17,910,000 after buying an additional 12,500 shares in the last quarter. Townsquare Capital LLC grew its holdings in Pinterest by 9.9% during the 4th quarter. Townsquare Capital LLC now owns 45,727 shares of the company's stock valued at $1,326,000 after buying an additional 4,127 shares in the last quarter. XTX Topco Ltd grew its holdings in Pinterest by 76.1% during the 4th quarter. XTX Topco Ltd now owns 33,553 shares of the company's stock valued at $973,000 after buying an additional 14,503 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Pinterest during the 4th quarter valued at about $9,237,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Trading Up 0.0%

Shares of NYSE:PINS traded up $0.02 during trading on Monday, reaching $35.80. The company's stock had a trading volume of 2,997,191 shares, compared to its average volume of 11,876,896. The stock has a market capitalization of $24.34 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. The firm's 50 day simple moving average is $36.21 and its two-hundred day simple moving average is $33.21. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The company had revenue of $998.23 million during the quarter, compared to analysts' expectations of $973.42 million. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. Pinterest's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. Research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $32.13, for a total value of $3,279,926.79. Following the transaction, the director owned 6,274 shares of the company's stock, valued at $201,583.62. This represents a 94.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 1,094,279 shares of company stock valued at $38,062,654. Corporate insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PINS shares. Barclays raised their price target on Pinterest from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Piper Sandler set a $40.00 price target on Pinterest in a report on Friday, August 8th. Bank of America raised their price target on Pinterest from $41.00 to $44.00 and gave the company a "buy" rating in a report on Friday, August 8th. Citigroup reissued a "buy" rating and set a $50.00 price objective (up from $44.00) on shares of Pinterest in a report on Friday, August 8th. Finally, Stifel Nicolaus raised their price objective on Pinterest from $46.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 8th. Six analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.40.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.