Ardevora Asset Management LLP Grows Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Ardevora Asset Management LLP raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 22.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,206,500 shares of the company’s stock after buying an additional 220,400 shares during the period. Ardevora Asset Management LLP’s holdings in Pinterest were worth $61,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its holdings in Pinterest by 350.6% in the second quarter. TCI Wealth Advisors Inc. now owns 392 shares of the company’s stock valued at $31,000 after purchasing an additional 305 shares during the period. Bollard Group LLC purchased a new stake in Pinterest during the 2nd quarter worth about $32,000. BerganKDV Wealth Management LLC lifted its holdings in Pinterest by 86.9% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 542 shares of the company’s stock worth $43,000 after buying an additional 252 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in Pinterest during the 3rd quarter worth about $46,000. Finally, Albion Financial Group UT purchased a new stake in Pinterest during the 2nd quarter worth about $47,000.

NYSE PINS opened at $42.80 on Friday. The business’s 50 day moving average is $49.33 and its two-hundred day moving average is $59.20. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 83.92, a PEG ratio of 1.67 and a beta of 1.11. Pinterest, Inc. has a 12-month low of $40.93 and a 12-month high of $89.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. The firm had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $631.10 million. Pinterest had a return on equity of 15.19% and a net margin of 14.35%. Pinterest’s revenue was up 43.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, research analysts predict that Pinterest, Inc. will post 0.51 earnings per share for the current year.

A number of brokerages have issued reports on PINS. Zacks Investment Research downgraded Pinterest from a “strong-buy” rating to a “hold” rating and set a $55.00 price target for the company. in a report on Wednesday, September 29th. Morgan Stanley cut their target price on Pinterest from $77.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup cut their target price on Pinterest from $65.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, November 11th. JPMorgan Chase & Co. cut Pinterest to a “hold” rating and set a $68.00 target price on the stock. in a research report on Thursday, August 5th. Finally, Credit Suisse Group cut their target price on Pinterest from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, November 5th. Fifteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.72.

In related news, CEO Benjamin Silbermann sold 58,857 shares of Pinterest stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $61.66, for a total transaction of $3,629,122.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Sharp sold 103,503 shares of Pinterest stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $48.36, for a total value of $5,005,405.08. The disclosure for this sale can be found here. Insiders have sold a total of 716,614 shares of company stock valued at $38,178,928 in the last ninety days. Corporate insiders own 8.45% of the company’s stock.

About Pinterest

Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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