Ninety One UK Ltd Acquires 737,518 Shares of Pinterest, Inc. $PINS

by · The Cerbat Gem

Ninety One UK Ltd grew its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,426,630 shares of the company’s stock after acquiring an additional 737,518 shares during the quarter. Ninety One UK Ltd owned 1.09% of Pinterest worth $238,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in Pinterest in the 2nd quarter worth $477,853,000. Amundi boosted its holdings in Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after acquiring an additional 12,271,958 shares during the period. Swedbank AB boosted its holdings in Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock valued at $181,024,000 after acquiring an additional 4,524,433 shares during the period. Balyasny Asset Management L.P. grew its position in Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after acquiring an additional 4,230,125 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Pinterest by 15.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after purchasing an additional 2,319,964 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares in the company, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 102,868 shares of company stock valued at $2,736,435 in the last three months. 7.06% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Pinterest stock opened at $25.90 on Thursday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The stock’s 50 day simple moving average is $27.55 and its two-hundred day simple moving average is $32.68. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.65 and a beta of 0.89.

Pinterest (NYSE:PINS – Get Free Report) last released its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $665.93 million during the quarter. On average, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

PINS has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating on shares of Pinterest in a research note on Wednesday, November 5th. Benchmark dropped their price target on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinterest in a report on Monday. Morgan Stanley reduced their price target on Pinterest from $41.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, BMO Capital Markets lowered their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.97.

Read Our Latest Analysis on Pinterest

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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