Ontario Teachers Pension Plan Board Buys 28,939 Shares of Pinterest, Inc. (NYSE:PINS)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Pinterest, Inc. by 0.6%, now holding 4,801,972 shares, which represents 2.2% of its portfolio.
• Pinterest reported $0.23 earnings per share for the latest quarter, falling short of analyst expectations of $0.25, despite a 15.5% year-over-year revenue growth.
• Analysts have differing views on Pinterest's stock, with a consensus rating of "Moderate Buy" and a price target average of $41.48, following upgrades and downgrades from multiple financial institutions.

Ontario Teachers Pension Plan Board boosted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,801,972 shares of the company's stock after purchasing an additional 28,939 shares during the quarter. Pinterest comprises 2.2% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 18th largest holding. Ontario Teachers Pension Plan Board owned approximately 0.71% of Pinterest worth $148,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in Pinterest by 73.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock valued at $2,760,000 after purchasing an additional 37,829 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Pinterest during the first quarter worth approximately $235,000. Concurrent Investment Advisors LLC bought a new stake in shares of Pinterest in the first quarter valued at approximately $261,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Pinterest by 21.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock valued at $3,478,000 after acquiring an additional 19,552 shares during the period. Finally, Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest in the fourth quarter worth $252,000. Institutional investors own 88.81% of the company's stock.

Pinterest Stock Up 0.8%

PINS stock opened at $39.18 on Thursday. The business has a fifty day moving average of $35.77 and a 200-day moving average of $33.04. The company has a market cap of $26.57 billion, a P/E ratio of 14.30, a PEG ratio of 1.95 and a beta of 0.78. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $36.88, for a total value of $42,412.00. Following the sale, the director directly owned 31,750 shares in the company, valued at approximately $1,170,940. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,502,611 shares of company stock worth $51,602,943. 7.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PINS shares. Morgan Stanley upgraded shares of Pinterest from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $37.00 to $45.00 in a research report on Monday, July 21st. Bank of America reduced their target price on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Piper Sandler decreased their target price on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.48.

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.

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