Korea Investment CORP Acquires 318,351 Shares of Pinterest, Inc. $PINS

Key Points

• Korea Investment CORP boosted its Pinterest stake by 82.7%, acquiring 318,351 shares to hold 703,483 shares (about 0.10%) worth roughly $22.63 million.
• Insiders sold a total of 34,457 shares last quarter (notably Malik Ducard sold 6,000 and CFO Julia Donnelly sold 22,821), reducing insider ownership to 7.11%.
• Several analysts recently cut price targets and the consensus rating is a Hold with an average price target of $25.87.

Korea Investment CORP boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 82.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 703,483 shares of the company's stock after acquiring an additional 318,351 shares during the period. Korea Investment CORP owned 0.10% of Pinterest worth $22,631,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC grew its stake in shares of Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company's stock worth $27,000 after purchasing an additional 713 shares during the period. Atlantic Union Bankshares Corp lifted its stake in Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock valued at $29,000 after buying an additional 883 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Pinterest by 46.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company's stock valued at $42,000 after buying an additional 419 shares during the period. Fifth Third Bancorp boosted its holdings in Pinterest by 2,409.1% during the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock worth $44,000 after buying an additional 1,325 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Pinterest during the second quarter worth about $45,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Activity at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the firm's stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the sale, the insider directly owned 699,773 shares in the company, valued at $18,096,129.78. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business's stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,457 shares of company stock valued at $876,925 in the last quarter. Corporate insiders own 7.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut Pinterest from a "buy" rating to a "hold" rating and set a $16.00 price target for the company. in a research note on Friday, February 13th. TD Cowen reduced their price objective on shares of Pinterest from $44.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Barclays decreased their price objective on shares of Pinterest from $36.00 to $25.00 and set an "equal weight" rating for the company in a report on Friday, February 13th. Stifel Nicolaus cut their target price on shares of Pinterest from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Finally, UBS Group set a $26.00 price target on shares of Pinterest in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.87.

Pinterest Price Performance

NYSE:PINS opened at $19.36 on Wednesday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The stock has a market capitalization of $12.87 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93. The business's 50-day simple moving average is $21.79 and its 200-day simple moving average is $27.62.

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