Pinterest, Inc. (NYSE:PINS) Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd lifted its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PINS. Bartlett & CO. Wealth Management LLC purchased a new position in Pinterest during the first quarter worth $25,000. Garde Capital Inc. purchased a new position in Pinterest during the first quarter worth $26,000. NBC Securities Inc. boosted its stake in shares of Pinterest by 99,900.0% during the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares during the period. American National Bank & Trust purchased a new stake in shares of Pinterest during the first quarter valued at $32,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after purchasing an additional 1,058 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PINS. Guggenheim lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Oppenheimer upped their price objective on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Wolfe Research raised shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a research report on Thursday, May 15th. Wedbush reissued an "outperform" rating and set a $40.00 target price (up previously from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Finally, UBS Group cut their target price on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.52.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $35.68, for a total value of $410,676.80. Following the transaction, the insider owned 390,230 shares in the company, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Silbermann sold 408,332 shares of the 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 owned 6,274 shares in the company, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,176,362 shares of company stock worth $39,645,976. 7.06% of the stock is owned by company insiders.

Pinterest Stock Up 0.6%

Shares of PINS traded up $0.23 during mid-day trading on Wednesday, hitting $35.99. 7,559,440 shares of the company traded hands, compared to its average volume of 11,080,979. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $43.75. The company has a market capitalization of $24.41 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. The business has a 50 day moving average of $32.90 and a 200 day moving average of $32.04.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the company posted $0.17 EPS. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.