Pinterest, Inc. $PINS Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 35.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,475,455 shares of the company's stock after selling 1,331,229 shares during the period. Amova Asset Management Americas Inc. owned 0.37% of Pinterest worth $64,065,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Pinterest by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company's stock worth $1,606,632,000 after buying an additional 1,069,646 shares during the period. Victory Capital Management Inc. raised its holdings in Pinterest by 18.5% during the third quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company's stock worth $685,899,000 after purchasing an additional 3,213,241 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Pinterest by 10.7% during the third quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company's stock worth $634,767,000 after purchasing an additional 1,913,668 shares in the last quarter. State Street Corp raised its holdings in Pinterest by 1.6% during the third quarter. State Street Corp now owns 14,079,956 shares of the company's stock worth $452,952,000 after purchasing an additional 224,909 shares in the last quarter. Finally, Norges Bank bought a new stake in Pinterest during the fourth quarter worth approximately $357,945,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PINS. TD Cowen boosted their target price on Pinterest from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. UBS Group upped their price target on Pinterest from $29.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Mizuho upped their price target on Pinterest from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Robert W. Baird upped their price target on Pinterest from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Finally, Guggenheim upped their price target on Pinterest from $21.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Pinterest has an average rating of "Hold" and an average target price of $27.40.

Pinterest Price Performance

Shares of NYSE:PINS opened at $21.91 on Wednesday. The company's fifty day moving average is $19.80 and its two-hundred day moving average is $21.69. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a market cap of $12.27 billion, a P/E ratio of 45.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $965.84 million. During the same period in the previous year, the company posted $0.23 EPS. Pinterest's revenue was up 17.8% on a year-over-year basis. Equities analysts expect that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 2,100 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the sale, the insider owned 724,673 shares of the company's stock, valued at $14,826,809.58. This represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,362 shares of company stock worth $1,583,253 in the last ninety days. Corporate insiders own 8.09% of the company's stock.

Pinterest Company 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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