Ninety One SA PTY Ltd Buys 9,620 Shares of Pinterest, Inc. (NYSE:PINS)

Ninety One SA PTY Ltd lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,626 shares of the company's stock after acquiring an additional 9,620 shares during the quarter. Ninety One SA PTY Ltd's holdings in Pinterest were worth $2,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Pinterest by 20.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock worth $75,000 after acquiring an additional 429 shares during the period. Redwood Investment Management LLC boosted its holdings in shares of Pinterest by 3.2% during the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after acquiring an additional 495 shares during the period. Founders Financial Alliance LLC boosted its holdings in shares of Pinterest by 5.9% during the fourth quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company's stock worth $292,000 after acquiring an additional 560 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after buying an additional 656 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Pinterest by 6.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after buying an additional 686 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Benchmark cut their price target on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. BMO Capital Markets cut their price target on Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Wolfe Research upgraded 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. Finally, Citigroup restated a "buy" rating and set a $44.00 target price (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and a consensus price target of $40.52.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 29,606 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total transaction of $119,761.74. Following the completion of the transaction, the chief accounting officer owned 171,373 shares of the company's stock, valued at $5,459,943.78. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,362 shares of company stock worth $39,645,976 over the last 90 days. Corporate insiders own 7.06% of the company's stock.

Pinterest Trading Down 0.5%

NYSE PINS traded down $0.20 during trading hours on Thursday, hitting $35.70. The company's stock had a trading volume of 3,180,651 shares, compared to its average volume of 12,062,629. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $43.03. The company has a market capitalization of $24.21 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. The company's 50-day simple moving average is $32.90 and its two-hundred day simple moving average is $32.04.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. Research analysts anticipate that Pinterest, Inc. will post 0.6 EPS 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.