Pinterest, Inc. (NYSE:PINS) Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Pinterest by 2.2% during Q1, owning approximately 58 million shares valued at $1.8 billion.
• Several institutional investors modified their positions in Pinterest, with 88.81% of the stock currently held by hedge funds and other institutional investors.
• Analyst ratings for Pinterest are largely positive, with a consensus target price of $42.40 and 25 out of 30 analysts issuing buy ratings.

Vanguard Group Inc. raised its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 58,008,711 shares of the company's stock after buying an additional 1,263,863 shares during the period. Vanguard Group Inc. owned about 8.55% of Pinterest worth $1,798,270,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PINS. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Pinterest during the 1st quarter valued at about $25,000. Garde Capital Inc. purchased a new position in shares of Pinterest during the 1st quarter valued at about $26,000. NBC Securities Inc. increased its stake in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares in the last quarter. American National Bank & Trust acquired a new position in Pinterest in the 1st quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its holdings in Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director directly owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 1,502,611 shares of company stock valued at $51,602,943 in the last 90 days. Corporate insiders own 7.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PINS shares. TD Cowen upped their price target on Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Morgan Stanley raised shares of Pinterest from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $37.00 to $45.00 in a research note on Monday, July 21st. Wall Street Zen raised shares of Pinterest from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets dropped their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, Citigroup reissued a "buy" rating and issued a $50.00 price target (up previously from $44.00) on shares of Pinterest in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.40.

Pinterest Stock Up 1.7%

Shares of Pinterest stock traded up $0.57 on Tuesday, hitting $34.76. 12,890,235 shares of the company were exchanged, compared to its average volume of 11,914,806. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78. The company has a 50-day moving average price of $36.09 and a 200 day moving average price of $33.16. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company's revenue was up 16.9% on a year-over-year basis. Research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest Profile

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.