Swiss Life Asset Management Ltd increased its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 43.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,610 shares of the company's stock after buying an additional 56,597 shares during the period. Swiss Life Asset Management Ltd's holdings in Pinterest were worth $5,971,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Pinterest during the 2nd quarter valued at $477,853,000. Balyasny Asset Management L.P. boosted its position in shares of Pinterest by 1,138.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company's stock worth $165,012,000 after purchasing an additional 4,230,125 shares during the last quarter. Man Group plc grew its stake in shares of Pinterest by 185.7% during the third quarter. Man Group plc now owns 4,983,427 shares of the company's stock worth $160,317,000 after purchasing an additional 3,239,222 shares during the period. Victory Capital Management Inc. grew its stake in shares of 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 during the period. Finally, Vanguard Group Inc. increased its holdings in Pinterest by 5.3% in the third quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company's stock valued at $1,961,933,000 after purchasing an additional 3,044,674 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PINS has been the topic of several analyst reports. BMO Capital Markets set a $28.00 target price on Pinterest and gave the company an "outperform" rating in a research note on Friday, February 13th. Wells Fargo & Company decreased their target price on Pinterest from $35.00 to $27.00 and set an "overweight" rating for the company in a research report on Friday, February 13th. Loop Capital cut Pinterest from a "buy" rating to a "hold" rating and lowered their price target for the company from $45.00 to $18.00 in a research note on Friday, February 13th. Argus downgraded shares of Pinterest from a "buy" rating to a "hold" rating in a research report on Monday, March 2nd. Finally, TD Cowen reduced their price objective on shares of Pinterest from $44.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $25.87.
View Our Latest Stock Analysis on PINS
Pinterest Price Performance
NYSE PINS opened at $18.71 on Friday. The firm has a market cap of $12.44 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.22 and a beta of 0.93. The stock's 50-day moving average is $20.50 and its 200-day moving average is $26.68. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93.
Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data 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 net margin of 9.87% and a return on equity of 7.95%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $0.56 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.
Insider Buying and Selling
In related news, CFO Donnelly Julia Brau sold 22,821 shares of the firm's stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the sale, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Malik Ducard sold 6,000 shares of the business's stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the sale, the insider directly owned 699,773 shares in the company, valued at $18,096,129.78. This represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 34,457 shares of company stock worth $876,925. Insiders own 7.06% of the company's stock.
About Pinterest
(
Free Report)
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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