Erste Asset Management GmbH Increases Stock Position in Pinterest, Inc. $PINS

Erste Asset Management GmbH raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 33,818.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,510,000 shares of the company’s stock after purchasing an additional 2,502,600 shares during the period. Pinterest accounts for approximately 0.8% of Erste Asset Management GmbH’s holdings, making the stock its 22nd biggest position. Erste Asset Management GmbH’s holdings in Pinterest were worth $83,633,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Snowden Capital Advisors LLC boosted its stake in Pinterest by 4.4% during the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after buying an additional 296 shares during the last quarter. Penserra Capital Management LLC increased its stake in Pinterest by 10.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after acquiring an additional 300 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after acquiring an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Pinterest by 3.6% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after acquiring an additional 359 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its position in shares of Pinterest by 5.8% during the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PINS shares. Wedbush reduced their price target on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Mizuho set a $35.00 price target on Pinterest in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price objective (down from $36.00) on shares of Pinterest in a research report on Friday, February 13th. Zacks Research upgraded Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Morgan Stanley lifted their price objective on shares of Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. One research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.87.

Pinterest Stock Up 1.4%

Shares of NYSE:PINS opened at $17.81 on Friday. The business’s 50 day moving average is $22.92 and its 200 day moving average is $28.64. The stock has a market cap of $11.85 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

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

Insider Activity

In other news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the sale, the insider owned 695,187 shares of the company’s stock, valued at approximately $15,335,825.22. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on 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 owned 540,358 shares in the company, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 33,407 shares of company stock valued at $855,925. Company insiders own 7.06% of the company’s stock.

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.