Victory Capital Management Inc. Raises Stock Holdings in Pinterest, Inc. $PINS

Key Points

• Victory Capital Management boosted its Pinterest stake by 30.5% in the fourth quarter, ending with 26.8 million shares valued at about $694 million.
• Pinterest reported strong quarterly results, with EPS of $0.27 beating estimates and revenue of $1.01 billion topping forecasts; revenue also rose 17.8% year over year.
• Wall Street sentiment is mixed but generally constructive: analysts have a consensus Hold rating with an average price target of $27.40, while several firms recently raised their targets and ratings.

Victory Capital Management Inc. increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,808,870 shares of the company's stock after buying an additional 6,258,628 shares during the quarter. Victory Capital Management Inc. owned 3.97% of Pinterest worth $694,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Pinterest by 1.8% in 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. Ameriprise Financial Inc. increased its stake in shares of Pinterest by 10.7% in the third quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company's stock worth $634,767,000 after buying an additional 1,913,668 shares during the period. State Street Corp increased its stake in shares of Pinterest by 1.6% in the third quarter. State Street Corp now owns 14,079,956 shares of the company's stock worth $452,952,000 after buying an additional 224,909 shares during the period. Norges Bank purchased a new position in Pinterest during the 4th quarter valued at $357,945,000. Finally, Davis Selected Advisers increased its position in Pinterest by 49.5% during the 4th quarter. Davis Selected Advisers now owns 11,801,983 shares of the company's stock valued at $305,554,000 after purchasing an additional 3,909,926 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of Pinterest stock opened at $20.28 on Friday. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 1.16 and a beta of 0.92. The firm's 50-day moving average is $19.98 and its 200 day moving average is $21.63. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Pinterest from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Pinterest from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Guggenheim boosted their price objective on shares of Pinterest from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Evercore set a $27.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. Finally, Benchmark reduced their price objective on shares of Pinterest from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Sixteen research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.40.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the transaction, the director owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the transaction, the insider owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 124,237 shares of company stock worth $2,604,190. Company insiders own 8.09% of the company's stock.

About Pinterest

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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