Pinterest, Inc. $PINS Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 8.9% during the third quarter, HoldingsChannel.com reports. The fund owned 1,494,452 shares of the company’s stock after selling 145,951 shares during the period. Pinterest accounts for about 1.0% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 21st biggest position. Ontario Teachers Pension Plan Board’s holdings in Pinterest were worth $48,077,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Pinterest during the 2nd quarter valued at approximately $477,853,000. Balyasny Asset Management L.P. lifted its stake in Pinterest by 1,138.8% in the second quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after buying an additional 4,230,125 shares during the last quarter. Vanguard Group Inc. lifted its stake in Pinterest by 5.3% in the third quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock valued at $1,961,933,000 after buying an additional 3,044,674 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings 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 acquiring an additional 2,319,964 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of Pinterest during the second quarter worth about $71,221,000. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS opened at $16.38 on Thursday. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 0.81 and a beta of 0.92. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93. The stock’s 50 day moving average price is $23.98 and its 200 day moving average price is $29.45.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

PINS has been the topic of several recent research reports. TD Cowen cut their price objective on shares of Pinterest from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Royal Bank Of Canada lowered shares of Pinterest from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $38.00 to $17.00 in a research note on Friday, February 13th. Sanford C. Bernstein reiterated an “outperform” rating and set a $20.00 price objective on shares of Pinterest in a research report on Friday, February 13th. Loop Capital cut Pinterest from a “buy” rating to a “hold” rating and lowered their target price for the company from $45.00 to $18.00 in a research report on Friday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $21.00 target price (down previously from $33.00) on shares of Pinterest in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eighteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.87.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The stock was 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 $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Malik Ducard sold 6,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the sale, the insider directly owned 699,773 shares of the company’s stock, valued at $18,096,129.78. The trade was a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,407 shares of company stock valued at $855,925 in the last ninety days. Company insiders own 7.06% of the company’s stock.

About Pinterest

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.