Future Fund LLC Purchases Shares of 60,067 Pinterest, Inc. $PINS

Future Fund LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 60,067 shares of the company’s stock, valued at approximately $2,154,000. Pinterest makes up about 1.0% of Future Fund LLC’s investment portfolio, making the stock its 21st biggest position.

Other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in shares of Pinterest by 243.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after buying an additional 49,204 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Pinterest by 101.2% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after acquiring an additional 54,365 shares during the last quarter. Truist Financial Corp lifted its holdings in Pinterest by 15.6% during the second quarter. Truist Financial Corp now owns 98,363 shares of the company’s stock worth $3,527,000 after acquiring an additional 13,267 shares during the period. Machina Capital S.A.S. purchased a new position in Pinterest in the second quarter worth $848,000. Finally, Ninety One UK Ltd boosted its position in Pinterest by 11.0% in the second quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock worth $239,872,000 after purchasing an additional 661,757 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director directly owned 30,600 shares of the company’s stock, valued at approximately $1,071,000. This represents a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 640,236 shares of company stock worth $22,878,326 in the last 90 days. 7.06% of the stock is owned by company insiders.

Pinterest Trading Up 2.9%

Pinterest stock opened at $27.06 on Friday. The firm has a 50 day simple moving average of $33.58 and a 200 day simple moving average of $33.85. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 1.42 and a beta of 0.96.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PINS. KeyCorp raised their target price on Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. The Goldman Sachs Group dropped their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus upped their price objective on Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.55.

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.