Pinterest, Inc. $PINS Shares Sold by Renaissance Group LLC

Renaissance Group LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 20.3% in the 4th quarter, HoldingsChannel reports. The firm owned 797,189 shares of the company’s stock after selling 202,989 shares during the quarter. Renaissance Group LLC’s holdings in Pinterest were worth $20,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. M Holdings Securities Inc. raised its holdings in Pinterest by 8.7% during the 4th quarter. M Holdings Securities Inc. now owns 21,083 shares of the company’s stock worth $546,000 after buying an additional 1,686 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Pinterest in the fourth quarter worth about $3,477,000. Illinois Municipal Retirement Fund increased its position in shares of Pinterest by 0.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 348,796 shares of the company’s stock worth $9,030,000 after acquiring an additional 1,234 shares in the last quarter. Winnow Wealth LLC increased its position in shares of Pinterest by 20.0% in the fourth quarter. Winnow Wealth LLC now owns 29,644 shares of the company’s stock worth $771,000 after acquiring an additional 4,941 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in shares of Pinterest by 65.3% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 48,374 shares of the company’s stock valued at $1,252,000 after acquiring an additional 19,114 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest News Summary

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Pinterest announced an expanded partnership with Amazon that brings Amazon Storefronts into the Pinterest app, giving creators a new way to showcase products and earn affiliate revenue. This could improve engagement and help Pinterest monetize its user base more effectively. TechCrunch article
• Positive Sentiment: Other reports highlighted the same Amazon storefront integration as a creator-focused initiative, reinforcing the view that Pinterest is strengthening its commerce and affiliate ecosystem. CNET article
• Positive Sentiment: Recent commentary has also pointed to accelerating monetization, solid user growth, and attractive valuation metrics, which may be helping investors view Pinterest as a rebound candidate. Seeking Alpha article
• Neutral Sentiment: Pinterest has been drawing elevated attention from market watchers and Zacks users, which may be contributing to trading volume but does not by itself change the business outlook. Zacks article
• Negative Sentiment: Director Benjamin Silbermann sold 46,875 shares in a pre-arranged 10b5-1 plan, a move that can weigh on sentiment even though the sale was scheduled in advance and disclosed to regulators. Insider trade reference

Pinterest Stock Performance

Shares of PINS stock opened at $21.78 on Thursday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The stock’s 50-day moving average is $19.88 and its two-hundred day moving average is $21.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market cap of $12.20 billion, a P/E ratio of 45.38, a PEG ratio of 1.19 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Analysts predict that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the sale, the director owned 27,450 shares of the company’s stock, valued at $549,000. The trade was a 7.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $21.78, for a total transaction of $1,020,937.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 124,237 shares of company stock worth $2,604,190 in the last ninety days. 8.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PINS. Rosenblatt Securities upped their price target on shares of Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their target price on shares of Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. TD Cowen increased their target price on Pinterest from $36.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Barclays raised their target price on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Loop Capital downgraded Pinterest from a “buy” rating to a “hold” rating and lowered their price target for the company from $45.00 to $18.00 in a report on Friday, February 13th. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of “Hold” and an average price target of $27.40.

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.