OP Asset Management Ltd Acquires Shares of 60,868 Pinterest, Inc. $PINS

OP Asset Management Ltd bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 60,868 shares of the company's stock, valued at approximately $1,116,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Pinterest during the 4th quarter valued at about $357,945,000. Davis Selected Advisers acquired a new stake in shares of Pinterest during the 3rd quarter worth approximately $253,887,000. State Street Corp grew its position in shares of Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company's stock worth $556,432,000 after buying an additional 7,412,213 shares during the period. Victory Capital Management Inc. raised its stake in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock worth $694,082,000 after buying an additional 6,258,628 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Pinterest by 15.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company's stock worth $719,994,000 after buying an additional 3,669,476 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Activity

In other news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $19.99, for a total transaction of $937,031.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares of the company's stock, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 232,195 shares of company stock worth $4,811,815 in the last 90 days. Corporate insiders own 8.09% of the company's stock.

Pinterest Price Performance

Shares of PINS stock opened at $21.83 on Tuesday. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The firm has a fifty day moving average of $20.40 and a 200-day moving average of $21.13. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same period in the previous year, the company posted $0.23 earnings per share. The company's revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Pinterest from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Oppenheimer upped their target price on shares of Pinterest from $24.00 to $30.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Piper Sandler reissued a "neutral" rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Barclays lifted their price objective on Pinterest from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. Finally, Mizuho upped their price objective on Pinterest from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Pinterest presently has a consensus rating of "Hold" and an average price target of $27.40.

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.

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