Ninety One UK Ltd Purchases 555,742 Shares of Pinterest, Inc. (NYSE:PINS)

Ninety One UK Ltd raised its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,027,355 shares of the company's stock after purchasing an additional 555,742 shares during the quarter. Ninety One UK Ltd owned 0.89% of Pinterest worth $186,848,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC bought a new position in shares of Pinterest during the 1st quarter worth about $25,000. Garde Capital Inc. bought a new stake in Pinterest in the first quarter valued at about $26,000. NBC Securities Inc. increased its stake in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares during the period. American National Bank & Trust bought a new stake in Pinterest in the first quarter valued at about $32,000. Finally, Golden State Wealth Management LLC increased its stake in Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after acquiring an additional 1,058 shares during the period. Institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the sale, the chief financial officer owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the sale, the director directly owned 6,274 shares of the company's stock, valued at $208,045.84. The trade was a 98.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,278,445 shares of company stock worth $43,269,922 over the last 90 days. 7.06% of the stock is currently owned by company insiders.

Pinterest Stock Down 1.0%

NYSE PINS traded down $0.35 during trading hours on Friday, hitting $35.45. The company's stock had a trading volume of 4,121,036 shares, compared to its average volume of 11,068,333. The stock has a fifty day moving average of $33.27 and a 200 day moving average of $32.12. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $42.20. The firm has a market capitalization of $24.04 billion, a P/E ratio of 12.94, a PEG ratio of 1.77 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company's quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

PINS has been the topic of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Barclays lowered their target price on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Guggenheim lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus lowered their target price on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup reaffirmed a "buy" rating and set a $44.00 price objective (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Pinterest presently has an average rating of "Moderate Buy" and a consensus price target of $40.52.

About Pinterest

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.