Quantitative Investment Management LLC Trims Stock Holdings in Pinterest, Inc. $PINS

Quantitative Investment Management LLC reduced its holdings in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 73.8% in the second quarter, Holdings Channel.com reports. The fund owned 32,806 shares of the company’s stock after selling 92,604 shares during the quarter. Quantitative Investment Management LLC’s holdings in Pinterest were worth $689,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its position in Pinterest by 15.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after acquiring an additional 3,669,476 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after purchasing an additional 6,258,628 shares during the last quarter. State Street Corp lifted its position in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after purchasing an additional 7,412,213 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after purchasing an additional 2,319,964 shares during the period. Finally, Norges Bank purchased a new stake in shares of Pinterest during the fourth quarter valued at $357,945,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PINS. Weiss Ratings upgraded shares of Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Mizuho boosted their price objective on shares of Pinterest from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Wedbush reissued a “neutral” rating and issued a $24.00 price objective on shares of Pinterest in a research report on Wednesday, August 5th. DA Davidson upped their target price on shares of Pinterest from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird raised their target price on shares of Pinterest from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Eighteen analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Hold” and an average target price of $27.90.

Check Out Our Latest Research Report on PINS

Insider Activity

In other news, CFO Donnelly Julia Brau sold 59,096 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $23.48, for a total value of $1,387,574.08. Following the completion of the sale, the chief financial officer owned 817,409 shares in the company, valued at approximately $19,192,763.32. The trade was a 6.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $21.15, for a total transaction of $991,406.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 508,469 shares of company stock worth $11,374,640. 8.09% of the stock is owned by company insiders.

Pinterest Price Performance

PINS opened at $21.23 on Wednesday. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $38.57. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $22.88 and its 200-day simple moving average is $20.54. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 62.44, a PEG ratio of 1.38 and a beta of 0.90.

Pinterest (NYSE:PINSGet Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.59 earnings per share for the current fiscal year.

Pinterest Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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