Pinebridge Investments LLC Makes New Investment in Pinterest, Inc. $PINS

Key Points

• Pinebridge Investments opened a new position in Pinterest during the fourth quarter, buying 63,791 shares valued at about $1.65 million.
• Pinterest recently reported better-than-expected quarterly results, with EPS of $0.27 versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year.
• Analysts remain mixed on the stock: the consensus rating is “Hold” with an average price target of $27.40, while insiders have also been selling shares in recent months.

Pinebridge Investments LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 63,791 shares of the company's stock, valued at approximately $1,652,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Snowden Capital Advisors LLC raised its position in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company's stock worth $253,000 after buying an additional 296 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Pinterest by 3.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company's stock worth $340,000 after purchasing an additional 358 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Pinterest by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company's stock worth $2,484,000 after purchasing an additional 464 shares during the last quarter. Simon Quick Advisors LLC grew its stake in shares of Pinterest by 5.5% in the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company's stock worth $265,000 after purchasing an additional 535 shares during the last quarter. Finally, Coyle Financial Counsel LLC grew its stake in shares of Pinterest by 5.8% in the 3rd quarter. Coyle Financial Counsel LLC now owns 10,002 shares of the company's stock worth $322,000 after purchasing an additional 551 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Performance

PINS stock opened at $21.94 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market cap of $12.29 billion, a P/E ratio of 45.71, a P/E/G ratio of 1.16 and a beta of 0.92. The firm has a 50 day simple moving average of $19.72 and a 200 day simple moving average of $21.71. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm's quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Research analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PINS shares. Barclays lifted their price objective on shares of Pinterest from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. Mizuho lifted their price objective on shares of Pinterest from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Loop Capital cut shares of Pinterest from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $45.00 to $18.00 in a research note on Friday, February 13th. Evercore set a $27.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Guggenheim lifted their target price on shares of Pinterest from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $27.40.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 2,100 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares in the company, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the sale, the insider owned 724,673 shares of the company's stock, valued at approximately $14,826,809.58. This represents 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. Over the last three months, insiders sold 77,362 shares of company stock worth $1,583,253. 8.09% of the stock is owned by company insiders.

Pinterest 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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