Ilmarinen Mutual Pension Insurance Co Purchases 501,000 Shares of Pinterest, Inc. $PINS

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its Pinterest stake by 359% in the fourth quarter, buying 501,000 additional shares and bringing its total holding to 640,569 shares worth about $16.6 million.
• Pinterest reported better-than-expected Q1 results, posting EPS of $0.27 versus the $0.22 estimate and revenue of $1.01 billion, up 17.8% year over year.
• Investor sentiment remains mixed: several institutions added to positions, but insider selling and ongoing securities-fraud class action headlines continue to create some caution around the stock.

Ilmarinen Mutual Pension Insurance Co grew its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 359.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 640,569 shares of the company's stock after purchasing an additional 501,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co owned approximately 0.09% of Pinterest worth $16,584,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Pinterest by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company's stock worth $1,606,632,000 after acquiring an additional 1,069,646 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Pinterest by 18.5% in the third quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company's stock worth $685,899,000 after acquiring an additional 3,213,241 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Pinterest by 10.7% in the third quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company's stock worth $634,767,000 after acquiring an additional 1,913,668 shares during the last quarter. State Street Corp grew its stake in shares of Pinterest by 1.6% in the third quarter. State Street Corp now owns 14,079,956 shares of the company's stock worth $452,952,000 after acquiring an additional 224,909 shares during the last quarter. Finally, Davis Selected Advisers grew its stake in shares of Pinterest by 49.5% in the fourth quarter. Davis Selected Advisers now owns 11,801,983 shares of the company's stock worth $305,554,000 after acquiring an additional 3,909,926 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,200 shares of company stock worth $84,000 in the last 90 days. 8.09% of the stock is owned by insiders.

Pinterest Stock Up 3.2%

PINS opened at $20.67 on Friday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The firm's fifty day moving average price is $19.36 and its two-hundred day moving average price is $21.98. The company has a market capitalization of $11.58 billion, a P/E ratio of 43.06, a P/E/G ratio of 1.07 and a beta of 0.93.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business's revenue was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Pinterest, Inc. will post 0.69 EPS for the current year.

Key Stories Impacting Pinterest

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Zacks highlighted Pinterest as a top long-term value stock, which may be helping support shares by reinforcing the bull case for patient investors. Article Title
• Positive Sentiment: Investor-interest articles and broader coverage suggest Pinterest remains a widely watched name, which can keep trading activity elevated around the stock. Article Title
• Neutral Sentiment: Director Gokul Rajaram sold 1,050 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still make some investors cautious. Article Title
• Negative Sentiment: Multiple law firms continued to publicize securities-fraud class action deadlines against Pinterest ahead of the May 29 lead-plaintiff cutoff, keeping legal uncertainty in focus for shareholders. Article Title

Analysts Set New Price Targets

PINS has been the topic of several research analyst reports. Wedbush lowered their price objective on shares of Pinterest from $30.00 to $16.00 and set a "neutral" rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company raised their price objective on Pinterest from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Benchmark reduced their price objective on Pinterest from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. UBS Group raised their price objective on Pinterest from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $28.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of "Hold" and a consensus price target of $27.40.

Pinterest 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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