Integrated Quantitative Investments LLC Takes $878,000 Position in Pinterest, Inc. $PINS

Integrated Quantitative Investments LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 24,471 shares of the company’s stock, valued at approximately $878,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Pinterest by 2.2% during the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock valued at $1,798,270,000 after acquiring an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares in the last quarter. Ameriprise Financial Inc. grew its position in Pinterest by 13.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after purchasing an additional 1,862,654 shares during the last quarter. Amundi increased its stake 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 purchasing an additional 12,271,958 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Pinterest by 27.3% in the second quarter. Swedbank AB now owns 7,430,885 shares of the company’s stock worth $266,472,000 after buying an additional 1,591,400 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PINS. Cowen reissued a “buy” rating on shares of Pinterest in a report on Friday, August 8th. Guggenheim dropped their price target on Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. BMO Capital Markets cut their price objective on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Barclays decreased their target price on Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Mizuho began coverage on shares of Pinterest in a report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Pinterest Price Performance

Pinterest stock opened at $26.62 on Monday. The stock has a market capitalization of $17.98 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. The business has a 50 day simple moving average of $32.57 and a 200-day simple moving average of $33.95. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

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

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the sale, the director owned 30,600 shares in the company, valued at $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the sale, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 714,283 shares of company stock worth $24,869,450. 7.11% of the stock is owned by company insiders.

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.