Keystone Investors PTE Ltd. Purchases Shares of 1,278,961 Pinterest, Inc. (NYSE:PINS)

Key Points

• Keystone Investors PTE Ltd. has acquired 1,278,961 shares of Pinterest, valued at approximately $39.6 million, making it 5.6% of its investment portfolio and the 6th largest holding.
• Pinterest's recent earnings report showed $0.33 EPS, slightly below analysts' expectations, while revenue increased by 16.9% year-over-year to $998.23 million.
• Recent analyst ratings for Pinterest are mostly positive, with a consensus rating of "Moderate Buy" and an average target price of $41.69.

Keystone Investors PTE Ltd. acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,278,961 shares of the company's stock, valued at approximately $39,648,000. Pinterest makes up 5.6% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 6th largest position. Keystone Investors PTE Ltd. owned about 0.19% of Pinterest as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest during the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in Pinterest during the 1st quarter valued at $26,000. NBC Securities Inc. grew its holdings in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust acquired a new stake in Pinterest during the 1st quarter valued at $32,000. Finally, Golden State Wealth Management LLC grew its holdings in Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after buying an additional 1,058 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Benjamin Silbermann sold 408,332 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the transaction, the director directly owned 6,274 shares in the company, valued at approximately $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 1,502,611 shares of company stock worth $51,602,943 in the last three months. Insiders own 7.06% of the company's stock.

Analyst Ratings Changes

PINS has been the topic of a number of research analyst reports. Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $37.00 to $45.00 in a report on Monday, July 21st. KeyCorp lifted their target price on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Citigroup lifted their target price on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus lifted their target price on Pinterest from $46.00 to $47.00 and gave the company a "buy" rating in a report on Friday. Finally, Wedbush lifted their target price on Pinterest from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Friday. Five investment 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, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $42.40.

Pinterest Stock Down 10.2%

PINS stock traded down $3.98 during midday trading on Friday, reaching $35.19. The company had a trading volume of 37,460,885 shares, compared to its average volume of 9,693,246. The stock has a 50 day moving average price of $36.01 and a 200 day moving average price of $33.13. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a market capitalization of $23.87 billion, a PE ratio of 12.61, a P/E/G ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last issued 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). Pinterest had a net margin of 49.31% and a return on equity of 8.80%. The company had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business's revenue was up 16.9% on a year-over-year basis. Research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest 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.