ING Groep NV Has $1 Million Stake in Pinterest, Inc. (NYSE:PINS)

ING Groep NV lowered its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 89.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,348 shares of the company's stock after selling 289,221 shares during the quarter. ING Groep NV's holdings in Pinterest were worth $1,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in shares of Pinterest during the 4th quarter worth approximately $252,000. Orion Portfolio Solutions LLC boosted its position in Pinterest by 30.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company's stock worth $238,000 after purchasing an additional 1,909 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Pinterest in the fourth quarter valued at $279,000. Resona Asset Management Co. Ltd. bought a new position in shares of Pinterest in the fourth quarter valued at about $4,996,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Pinterest by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 617,569 shares of the company's stock valued at $17,910,000 after purchasing an additional 12,500 shares during the period. Institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PINS. TD Cowen lifted their target price on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Wedbush boosted their price objective on Pinterest from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Barclays lowered their target price on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company set a $42.00 price target on Pinterest and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Citigroup reaffirmed a "buy" rating and issued a $44.00 price objective (up from $41.00) on shares of Pinterest in a report on Tuesday, June 24th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and an average target price of $41.48.

Pinterest Stock Up 0.8%

Shares of PINS stock opened at $39.18 on Thursday. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The stock's fifty day simple moving average is $35.77 and its 200 day simple moving average is $33.04. The firm has a market capitalization of $26.57 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.95 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period in the previous year, the business posted $0.17 earnings per share. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the completion of the sale, the insider directly owned 390,230 shares in the company, valued at $13,923,406.40. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $37.95, for a total value of $3,874,049.85. Following the transaction, the director directly owned 8,414 shares of the company's stock, valued at approximately $319,311.30. This represents a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,502,611 shares of company stock worth $51,602,943. Company insiders own 7.06% of the company's stock.

Pinterest Company Profile

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.

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