Pinterest, Inc. $PINS Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial increased its Pinterest stake by 10.7% in Q3 and now owns 19,732,086 shares—about 2.92% of the company—valued at roughly $634.8 million.
• Several analysts have cut ratings and targets (including downgrades to "hold"); the consensus rating is Hold with an average price target of $25.87.
• Pinterest slightly missed the quarter (EPS $0.67 vs. $0.68; revenue $1.32B vs. $1.33B) despite 14.3% YoY revenue growth, and the stock trades around $18.20 with a $12.11B market cap.

Ameriprise Financial Inc. lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 10.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,732,086 shares of the company's stock after buying an additional 1,913,668 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.92% of Pinterest worth $634,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC increased its holdings in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company's stock valued at $27,000 after purchasing an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in shares of Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock valued at $29,000 after acquiring an additional 883 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Pinterest during the second quarter worth approximately $45,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Pinterest by 46.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company's stock valued at $42,000 after purchasing an additional 419 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock valued at $44,000 after purchasing an additional 1,325 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Loop Capital downgraded Pinterest from a "buy" rating to a "hold" rating and reduced their target price for the stock from $45.00 to $18.00 in a research note on Friday, February 13th. Zacks Research upgraded shares of Pinterest from a "strong sell" rating to a "hold" rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Pinterest from a "buy" rating to a "hold" rating and set a $16.00 price objective on the stock. in a report on Friday, February 13th. Rosenblatt Securities reissued a "neutral" rating and set a $20.00 target price on shares of Pinterest in a research note on Wednesday, March 4th. Finally, Benchmark reduced their price target on shares of Pinterest from $39.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Pinterest currently has an average rating of "Hold" and a consensus price target of $25.87.

Pinterest Trading Up 0.6%

NYSE:PINS opened at $18.20 on Monday. The company has a market cap of $12.11 billion, a P/E ratio of 29.84, a P/E/G ratio of 1.21 and a beta of 0.93. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company's 50-day moving average price is $21.34 and its 200-day moving average price is $27.25.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the company's stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company's stock, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Malik Ducard sold 2,293 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the sale, the insider owned 695,187 shares of the company's stock, valued at approximately $15,335,825.22. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,457 shares of company stock valued at $876,925 over the last ninety days. Corporate insiders own 7.11% of the company's stock.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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