Nuveen LLC Takes $56.40 Million Position in Pinterest, Inc. $PINS

Key Points

• Nuveen LLC invested approximately $56.4 million in Pinterest, acquiring over 1.8 million shares, which represents 0.27% of the company's total shares.
• Pinterest's stock is currently valued at $36.37, with a market capitalization of $24.66 billion, and it experienced a 1.6% increase.
• The company reported a net revenue of $998.23 million for the last quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 16.9%.

Nuveen LLC bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,819,221 shares of the company's stock, valued at approximately $56,396,000. Nuveen LLC owned approximately 0.27% of Pinterest as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PINS. Vanguard Group Inc. boosted its stake in Pinterest by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock worth $1,798,270,000 after buying an additional 1,263,863 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares during the last quarter. Ninety One UK Ltd boosted its stake in Pinterest by 10.2% in the 1st quarter. Ninety One UK Ltd now owns 6,027,355 shares of the company's stock worth $186,848,000 after buying an additional 555,742 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Pinterest by 3.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,793,534 shares of the company's stock worth $179,600,000 after buying an additional 205,879 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling

In related news, CTO Matthew Madrigal sold 20,000 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $38.58, for a total transaction of $771,600.00. Following the completion of the sale, the chief technology officer directly owned 428,823 shares of the company's stock, valued at approximately $16,543,991.34. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $37.95, for a total transaction of $3,874,049.85. Following the transaction, the director owned 8,414 shares of the company's stock, valued at approximately $319,311.30. The trade was a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,094,279 shares of company stock valued at $38,062,654. 7.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PINS shares. Benchmark upped their price target on shares of Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and set a $50.00 price target (up previously from $44.00) on shares of Pinterest in a research report on Friday, August 8th. Stifel Nicolaus upped their price target on shares of Pinterest from $46.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Monness Crespi & Hardt upped their price target on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Pinterest from a "buy" rating to a "hold" rating in a research report on Sunday. Six equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and an average target price of $42.40.

Pinterest Trading Up 0.7%

Shares of NYSE PINS traded up $0.25 during midday trading on Monday, reaching $36.03. The company's stock had a trading volume of 4,486,731 shares, compared to its average volume of 11,886,873. The company has a 50 day moving average price of $36.21 and a 200 day moving average price of $33.21. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The company has a market cap of $24.49 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The firm had revenue of $998.23 million for the quarter, compared to analyst estimates of $973.42 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm's revenue was up 16.9% compared to the same quarter last year. Research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Profile

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.