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

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

A number of other hedge funds have also recently bought and sold shares of the stock. Ninety One UK Ltd raised its holdings in Pinterest by 10.2% in the 1st quarter. Ninety One UK Ltd now owns 6,027,355 shares of the company's stock valued at $186,848,000 after acquiring an additional 555,742 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in Pinterest in the 1st quarter valued at $1,713,000. U.S. Capital Wealth Advisors LLC acquired a new position in Pinterest in the 1st quarter valued at $1,445,000. Envestnet Asset Management Inc. raised its holdings in Pinterest by 8.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 670,132 shares of the company's stock valued at $20,774,000 after acquiring an additional 52,563 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in Pinterest in the 1st quarter valued at $261,000. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group decreased their price target on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus decreased their price target on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Monness Crespi & Hardt decreased their price target on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Benchmark reduced their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.52.

Pinterest Trading Up 0.6%

PINS stock traded up $0.23 during trading on Wednesday, reaching $35.99. 7,559,440 shares of the stock were exchanged, compared to its average volume of 11,080,979. The firm's 50 day moving average is $32.90 and its 200 day moving average is $32.04. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $43.75. The firm has a market cap of $24.41 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period last year, the company posted $0.17 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,510 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 390,230 shares of the company's stock, valued at approximately $13,923,406.40. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Silbermann sold 408,332 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the sale, the director directly owned 6,274 shares of the company's stock, valued at $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,176,362 shares of company stock valued at $39,645,976. 7.06% of the stock is owned by company insiders.

Pinterest Company 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.