Pinterest, Inc. $PINS Stake Reduced by Inflection Point Investments LLP

Key Points

• Inflection Point Investments LLP has reduced its stake in Pinterest, Inc. by 16.0%, now holding 133,353 shares valued at approximately $4.78 million.
• Multiple institutional investors have significantly increased their stakes in Pinterest, with Amundi leading at a 618.9% increase to over $441 million.
• Pinterest's stock currently has a market cap of $21.92 billion and analysts are anticipating it will post earnings of $0.6 per share for the current year.

Inflection Point Investments LLP reduced its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 16.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,353 shares of the company's stock after selling 25,325 shares during the quarter. Pinterest comprises about 9.1% of Inflection Point Investments LLP's portfolio, making the stock its 7th biggest position. Inflection Point Investments LLP's holdings in Pinterest were worth $4,782,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PINS. Amundi increased its stake in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company's stock valued at $441,897,000 after buying an additional 12,271,958 shares during the period. Price T Rowe Associates Inc. MD increased its position in Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the period. Swedbank AB increased its position in Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company's stock valued at $181,024,000 after purchasing an additional 4,524,433 shares during the period. Pacer Advisors Inc. increased its position in Pinterest by 4,673.9% during the 1st quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company's stock valued at $78,484,000 after purchasing an additional 2,478,708 shares during the period. Finally, Congress Asset Management Co. purchased a new position in Pinterest during the second quarter valued at approximately $82,516,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

Shares of PINS stock opened at $32.23 on Tuesday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The stock's fifty day moving average price is $35.12 and its 200 day moving average price is $33.12. The company has a market cap of $21.92 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The business had revenue of $665.93 million for the quarter. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

PINS has been the topic of several research reports. Bank of America lifted their price objective on shares of Pinterest from $41.00 to $44.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wedbush lifted their price target on Pinterest from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Pinterest in a report on Friday, August 8th. Piper Sandler set a $40.00 target price on Pinterest in a research note on Friday, August 8th. Finally, Monness Crespi & Hardt lifted their target price on Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.67.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the sale, the director owned 30,600 shares of the company's stock, valued at approximately $1,071,000. The trade was a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale can be found here. Insiders sold a total of 865,552 shares of company stock worth $31,242,397 in the last quarter. 7.11% of the stock is currently owned by company 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.

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