Pinterest, Inc. $PINS Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management cut its Pinterest stake by 19% in the fourth quarter, selling 346,753 shares and leaving it with 1,474,151 shares valued at about $38.2 million.
• Several other institutional investors also adjusted their Pinterest holdings, while hedge funds and other institutions still control a large majority of the stock at 88.81%.
• Wall Street sentiment remains mixed but constructive: analysts have a consensus Hold rating with an average target price of $27.40, and Pinterest recently beat earnings estimates with stronger-than-expected revenue growth.

Panagora Asset Management Inc. lowered its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,474,151 shares of the company's stock after selling 346,753 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.22% of Pinterest worth $38,166,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Mariner LLC raised its holdings in shares of Pinterest by 78.1% during the fourth quarter. Mariner LLC now owns 367,066 shares of the company's stock valued at $9,508,000 after acquiring an additional 160,969 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Pinterest by 7.3% during the fourth quarter. Focus Partners Wealth now owns 496,040 shares of the company's stock valued at $12,842,000 after acquiring an additional 33,564 shares during the last quarter. Fieldview Capital Management LLC raised its holdings in shares of Pinterest by 53.2% during the fourth quarter. Fieldview Capital Management LLC now owns 165,740 shares of the company's stock valued at $4,291,000 after acquiring an additional 57,541 shares during the last quarter. Infusive Asset Management Inc. raised its holdings in shares of Pinterest by 78.5% during the fourth quarter. Infusive Asset Management Inc. now owns 124,263 shares of the company's stock valued at $3,217,000 after acquiring an additional 54,653 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Pinterest during the fourth quarter valued at approximately $85,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PINS. Citigroup increased their target price on Pinterest from $19.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. TD Cowen increased their target price on Pinterest from $36.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Oppenheimer increased their price target on Pinterest from $24.00 to $30.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Barclays increased their price target on Pinterest from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Finally, Robert W. Baird increased 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. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.40.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $21.78, for a total value of $1,020,937.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares of the company's stock, valued at $14,826,809.58. The trade was 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. Over the last three months, insiders sold 124,237 shares of company stock worth $2,604,190. Company insiders own 8.09% of the company's stock.

Pinterest Price Performance

NYSE:PINS opened at $21.27 on Tuesday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market cap of $11.92 billion, a PE ratio of 44.32, a P/E/G ratio of 1.09 and a beta of 0.92. The stock has a 50 day moving average price of $20.05 and a 200 day moving average price of $21.58.

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. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. Equities research analysts expect that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

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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