Lazard Asset Management LLC Buys 494,571 Shares of Pinterest, Inc. $PINS

Key Points

• Lazard Asset Management increased its Pinterest stake by 53.4%, buying 494,571 additional shares to hold 1.42 million shares valued at approximately $26.1 million. Institutional investors collectively own 88.81% of PINS.
• Pinterest reported quarterly revenue of $1.01 billion, up 17.8% year over year, and adjusted earnings of $0.27 per share, exceeding analysts’ $0.22 estimate.
• Analysts have a consensus “Hold” rating and an average price target of $27.69, while PINS recently opened at $24.38. Insiders sold 370,720 shares worth about $7.9 million over the past three months.

Lazard Asset Management LLC lifted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 53.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,421,187 shares of the company's stock after buying an additional 494,571 shares during the quarter. Lazard Asset Management LLC owned about 0.25% of Pinterest worth $26,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Revolve Wealth Partners LLC bought a new stake in Pinterest during the 4th quarter valued at approximately $252,000. Integrated Wealth Concepts LLC lifted its stake in shares of Pinterest by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock valued at $339,000 after purchasing an additional 607 shares during the period. Empowered Funds LLC lifted its stake in shares of Pinterest by 45.6% in the 1st quarter. Empowered Funds LLC now owns 15,168 shares of the company's stock valued at $470,000 after purchasing an additional 4,748 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company's stock valued at $335,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Pinterest in the second quarter worth $696,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PINS shares. Guggenheim reissued a "buy" rating and set a $24.00 price objective on shares of Pinterest in a research report on Monday, June 15th. BMO Capital Markets reiterated an "outperform" rating and issued a $30.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. UBS Group lifted their price target on shares of Pinterest from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Evercore set a $27.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Robert W. Baird boosted their price objective on shares of Pinterest from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Seventeen investment 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, the company has a consensus rating of "Hold" and a consensus price target of $27.69.

Pinterest Stock Up 3.7%

NYSE:PINS opened at $24.38 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The firm has a market cap of $13.66 billion, a P/E ratio of 50.79, a P/E/G ratio of 1.34 and a beta of 0.89. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The firm has a 50-day simple moving average of $21.38 and a two-hundred day simple moving average of $20.59.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.23 earnings per share. The business's revenue was up 17.8% on a year-over-year basis. Analysts predict that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the transaction, the insider directly owned 691,840 shares in the company, valued at $13,594,656. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 370,720 shares of company stock valued at $7,892,627 in the last three months. 8.09% of the stock is owned by insiders.

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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