Pinterest, Inc. (NYSE:PINS) Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG has significantly increased its stake in Pinterest by 37.2%, acquiring a total of 2,431,424 shares worth approximately $75.37 million.
• Several institutional investors have also modified their positions in Pinterest, with a collective ownership of 88.81% of the company's stock as of the latest quarter.
• Pinterest reported a quarterly revenue increase of 16.9% year-over-year, generating $998.23 million, despite missing EPS estimates by $0.01.

Deutsche Bank AG boosted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 37.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,431,424 shares of the company's stock after purchasing an additional 659,401 shares during the period. Deutsche Bank AG owned about 0.36% of Pinterest worth $75,374,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest in the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in Pinterest in the 1st quarter valued at approximately $26,000. NBC Securities Inc. increased its holdings in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust acquired a new stake in Pinterest in the 1st quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC increased its holdings in Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after purchasing an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analyst Weigh In

PINS has been the subject of several research reports. BMO Capital Markets dropped their target price on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, May 9th. TD Cowen boosted their price target on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Pinterest from a "hold" rating to a "buy" rating in a research note on Saturday. Wolfe Research upgraded shares of 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, The Goldman Sachs Group dropped their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $36.88, for a total value of $42,412.00. Following the completion of the sale, the director directly owned 31,750 shares of the company's stock, valued at approximately $1,170,940. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction dated 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 directly owned 362,890 shares of the company's stock, valued at $12,428,982.50. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,502,611 shares of company stock valued at $51,602,943. 7.11% of the stock is owned by insiders.

Pinterest Price Performance

Shares of PINS opened at $35.19 on Monday. The firm has a fifty day moving average price of $36.01 and a 200 day moving average price of $33.13. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The stock has a market cap of $23.87 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $998.23 million during the quarter, compared to analysts' expectations of $973.42 million. During the same period in the previous year, the company posted $0.29 earnings per share. Pinterest's quarterly revenue was up 16.9% on a year-over-year basis. As a group, equities analysts expect 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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.