Ninety One SA PTY Ltd Raises Holdings in Pinterest, Inc. (NYSE:PINS)

Ninety One SA PTY Ltd grew its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,626 shares of the company's stock after purchasing an additional 9,620 shares during the period. Ninety One SA PTY Ltd's holdings in Pinterest were worth $2,741,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Pinterest by 73.9% during the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after buying an additional 37,829 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock valued at $725,000 after buying an additional 11,925 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Pinterest in the first quarter valued at approximately $235,000. Wealth Enhancement Advisory Services LLC boosted its stake 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 buying an additional 19,552 shares during the period. Finally, Revolve Wealth Partners LLC bought a new stake in shares of Pinterest in the fourth quarter valued at approximately $252,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PINS shares. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Thursday, May 15th. Wells Fargo & Company set a $42.00 price target on Pinterest and gave the stock an "overweight" rating in a report on Tuesday, July 1st. The Goldman Sachs Group cut their price objective on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets cut their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, TD Cowen dropped their price target on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $40.52.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total transaction of $410,676.80. Following the transaction, the insider directly owned 390,230 shares of the company's stock, valued at $13,923,406.40. This represents a 2.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value 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 $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,176,362 shares of company stock worth $39,645,976. Insiders own 7.11% of the company's stock.

Pinterest Stock Down 1.2%

Shares of NYSE PINS traded down $0.42 during mid-day trading on Wednesday, reaching $35.35. 2,476,844 shares of the company were exchanged, compared to its average volume of 11,040,554. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $44.06. The stock has a market capitalization of $23.97 billion, a PE ratio of 12.87, a PEG ratio of 1.76 and a beta of 0.94. The company's 50 day moving average price is $32.68 and its 200 day moving average price is $32.01.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly 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 analysts' expectations of $848.49 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current 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.