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Zevenbergen Capital Investments LLC Has $11.83 Million Stake in Pinterest, Inc. (NYSE:PINS)

Pinterest logo with Computer and Technology background

Key Points

  • Zevenbergen Capital Investments LLC increased its stake in Pinterest by 4.3% during the first quarter, holding 381,525 shares valued at approximately $11.83 million.
  • Pinterest reported a 16.9% increase in quarterly revenue year-over-year, totaling $998.23 million, although it missed earnings expectations by one cent.
  • Institutional investors and hedge funds now own 88.81% of Pinterest's stock, with the company receiving a mixed outlook from analysts and a consensus price target of $42.40.
  • Looking to Export and Analyze Pinterest Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Zevenbergen Capital Investments LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 4.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 381,525 shares of the company's stock after acquiring an additional 15,725 shares during the period. Zevenbergen Capital Investments LLC owned 0.06% of Pinterest worth $11,827,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Pinterest by 73.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock valued at $2,760,000 after acquiring an additional 37,829 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Pinterest during the 1st quarter valued at about $235,000. Concurrent Investment Advisors LLC acquired a new position in shares of Pinterest during the 1st quarter valued at about $261,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Pinterest by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock valued at $3,478,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Revolve Wealth Partners LLC acquired a new position in shares of Pinterest during the 4th quarter valued at about $252,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Price Performance

Shares of PINS stock opened at $35.19 on Friday. The stock's fifty day simple moving average is $36.01 and its 200 day simple moving average is $33.13. The firm has a market cap of $23.87 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.76 and a beta of 0.78. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.80%. The business had revenue of $998.23 million during the quarter, compared to the consensus estimate of $973.42 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The company's revenue for the quarter was up 16.9% compared to the same quarter last year. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction 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 completion of the transaction, the director owned 6,274 shares in the company, valued at approximately $208,045.84. The trade was a 98.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,502,611 shares of company stock valued at $51,602,943. Insiders own 7.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets lowered their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. TD Cowen raised their target price on Pinterest from $40.00 to $43.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Piper Sandler set a $40.00 target price on Pinterest in a report on Friday. Wolfe Research raised Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a report on Thursday, May 15th. Finally, Barclays raised their target price on Pinterest from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

Read Our Latest Stock Report on Pinterest

Pinterest Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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