Erste Asset Management GmbH trimmed its holdings in Pinterest, Inc. (NYSE:PINS – Free Report) by 8.4% in the fourth quarter, Holdings Channel reports. The fund owned 2,300,000 shares of the company’s stock after selling 210,000 shares during the period. Erste Asset Management GmbH’s holdings in Pinterest were worth $59,547,000 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. Atlantic Union Bankshares Corp grew its stake in Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after acquiring an additional 883 shares during the period. Elevated Capital Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at about $26,000. Addison Advisors LLC grew its stake in Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after acquiring an additional 1,200 shares during the period. Fifth Third Bancorp grew its stake in Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after acquiring an additional 1,325 shares during the period. Finally, Garner Asset Management Corp acquired a new position in Pinterest in the fourth quarter valued at about $36,000. 88.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on PINS shares. Morgan Stanley boosted their target price on Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Barclays boosted their target price on Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Guggenheim upped their price objective on Pinterest from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Cantor Fitzgerald set a $18.00 price objective on Pinterest in a research report on Friday, February 13th. Finally, Robert W. Baird upped their price objective on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.40.
Pinterest Price Performance
NYSE:PINS opened at $21.36 on Monday. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $19.64 and its two-hundred day moving average price is $21.74. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 44.50, a P/E/G ratio of 1.16 and a beta of 0.92. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93.
Pinterest (NYSE:PINS – Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current year.
Insider Buying and Selling at Pinterest
In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was 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 in the company, valued at $549,000. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the sale, the insider owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 77,362 shares of company stock worth $1,583,253 over the last 90 days. Company insiders own 8.09% of the company’s stock.
More Pinterest News
Here are the key news stories impacting Pinterest this week:
- Positive Sentiment: Pinterest’s expanded AWS deal should help support its AI roadmap, improve search and personalization, and potentially strengthen engagement and ad revenue over time. Pinterest Works with AWS to Power Next Chapter of AI-Driven Visual Search Discovery
- Positive Sentiment: Analysts turned more constructive after Pinterest’s strong first quarter, with Oppenheimer raising its price target to $30 and maintaining an Outperform rating, reinforcing bullish sentiment around the stock. Here is Why Pinterest (PINS) is One of the Best Large Cap Stocks Under $30
- Neutral Sentiment: Director Benjamin Silbermann sold 46,875 shares in a pre-arranged Rule 10b5-1 plan, which may weigh on sentiment a bit but does not necessarily reflect a change in outlook. Insider Selling: Pinterest (NYSE:PINS) Director Sells 46,875 Shares of Stock
- Neutral Sentiment: Some recent commentary noted Pinterest had been under pressure after earnings, but the AWS expansion is now the more important near-term catalyst for the stock. Pinterest signs $4 billion Amazon deal for cloud services
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.
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