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

Ninety One SA PTY Ltd raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,626 shares of the company's stock after buying 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 quarter.

Several other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of Pinterest by 20.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock valued at $75,000 after acquiring an additional 429 shares during the period. Redwood Investment Management LLC lifted its position in shares of Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after acquiring an additional 495 shares during the period. Founders Financial Alliance LLC lifted its position in shares of Pinterest by 5.9% during the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company's stock valued at $292,000 after acquiring an additional 560 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Pinterest by 9.3% during the 4th quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after acquiring an additional 656 shares during the period. Finally, Resonant Capital Advisors LLC lifted its position in shares of Pinterest by 6.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after acquiring an additional 686 shares during the period. 88.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PINS. Morgan Stanley boosted their target price on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup restated a "buy" rating and set a $44.00 price target (up previously from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Benchmark decreased their price target on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Monness Crespi & Hardt decreased their price target on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Pinterest Price Performance

Shares of NYSE PINS traded down $0.35 during trading on Friday, hitting $35.45. The stock had a trading volume of 4,121,036 shares, compared to its average volume of 11,068,333. The firm has a fifty day moving average of $33.27 and a two-hundred day moving average of $32.12. The company has a market capitalization of $24.04 billion, a PE ratio of 12.94, a PEG ratio of 1.77 and a beta of 0.94. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $42.20.

Pinterest (NYSE:PINS - Get Free Report) last issued 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). The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer directly owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. The trade was a 7.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 408,332 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the transaction, the director directly owned 6,274 shares in the company, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,278,445 shares of company stock worth $43,269,922 over the last three months. 7.06% of the stock is owned by insiders.

About Pinterest

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.