Eminence Capital LP reduced its position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 32.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,539,453 shares of the company’s stock after selling 2,175,555 shares during the period. Pinterest accounts for about 1.9% of Eminence Capital LP’s portfolio, making the stock its 24th largest holding. Eminence Capital LP owned 0.67% of Pinterest worth $117,526,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Elevated Capital Advisors LLC purchased a new stake in Pinterest during the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its stake in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after buying an additional 1,049 shares in the last quarter. Addison Advisors LLC increased its stake in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after buying an additional 1,200 shares in the last quarter. Garner Asset Management Corp purchased a new stake in Pinterest during the 4th quarter worth approximately $36,000. Finally, Fifth Third Bancorp increased its stake in Pinterest by 2,409.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after buying an additional 1,325 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PINS has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Pinterest from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Robert W. Baird boosted their price objective on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group restated a “buy” rating and issued a $28.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating and issued a $30.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. Finally, Weiss Ratings lowered Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 2nd. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.40.
Insider Buying and Selling
In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $21.15, for a total value 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 three months, insiders sold 171,112 shares of company stock worth $3,595,596. Company insiders own 8.09% of the company’s stock.
Pinterest Price Performance
PINS stock opened at $20.37 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The business has a 50 day simple moving average of $20.15 and a 200-day simple moving average of $21.51. The firm has a market capitalization of $11.41 billion, a PE ratio of 42.43, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. Equities research analysts anticipate that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.
Pinterest Company Profile
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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