Legal & General Group Plc Has $122.13 Million Holdings in Pinterest, Inc. $PINS

Key Points

• Legal & General Group Plc increased its Pinterest stake by 7.1% in the fourth quarter, ending with 4.72 million shares valued at about $122.1 million. Institutional investors now own 88.81% of Pinterest.
• Pinterest reported better-than-expected first-quarter results, with earnings of $0.27 per share versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year. The company also posted a 7.64% net margin.
• Analyst views remain mixed: the stock has a consensus Hold rating and average price target of $27.40, though several firms recently raised targets. Insider activity and ongoing securities-fraud class action headlines are also keeping some pressure on sentiment.

Legal & General Group Plc boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,717,329 shares of the company's stock after buying an additional 311,976 shares during the quarter. Legal & General Group Plc owned about 0.70% of Pinterest worth $122,132,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Elevated Capital Advisors LLC acquired a new position in shares of Pinterest during the 4th quarter valued at about $26,000. Atlantic Union Bankshares Corp lifted its holdings in Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock worth $29,000 after purchasing an additional 883 shares during the last quarter. Addison Advisors LLC lifted its holdings in Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock worth $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new stake in Pinterest during the fourth quarter worth approximately $36,000. Finally, Fifth Third Bancorp boosted its position 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 purchasing an additional 1,325 shares during the period. 88.81% of the stock is currently owned by institutional investors.

More Pinterest News

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

Pinterest Trading Up 3.2%

Shares of Pinterest stock opened at $20.67 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The company's fifty day simple moving average is $19.36 and its 200-day simple moving average is $21.98. The company has a market cap of $11.58 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 1.07 and a beta of 0.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $965.84 million. During the same period in the prior year, the firm earned $0.23 EPS. The business's revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.69 EPS for the current year.

Analysts Set New Price Targets

PINS has been the topic of a number of recent analyst reports. Rothschild & Co Redburn set a $23.00 price target on shares of Pinterest and gave the company a "neutral" rating in a research report on Monday, April 27th. Morgan Stanley upped their price objective on shares of Pinterest from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Citigroup lifted their target price on shares of Pinterest from $19.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their target price on shares of Pinterest from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Finally, Wedbush decreased their price target on shares of Pinterest from $30.00 to $16.00 and set a "neutral" rating for the company in a report on Friday, February 13th. Sixteen research 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. According to MarketBeat.com, Pinterest presently has a consensus rating of "Hold" and a consensus price target of $27.40.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director owned 27,450 shares in the company, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 over the last three months. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.