Quantitative Investment Management LLC Lowers Holdings in Pinterest, Inc. $PINS

Quantitative Investment Management LLC lowered its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 73.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,806 shares of the company’s stock after selling 92,604 shares during the quarter. Quantitative Investment Management LLC’s holdings in Pinterest were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Pinterest during the 4th quarter valued at approximately $357,945,000. State Street Corp lifted its holdings in shares of Pinterest by 52.6% in the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after buying an additional 7,412,213 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after acquiring an additional 6,258,628 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Pinterest by 271.1% during the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock worth $109,831,000 after acquiring an additional 4,375,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Pinterest by 15.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after acquiring an additional 3,669,476 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PINS shares. Royal Bank Of Canada boosted their price target on shares of Pinterest from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Guggenheim lifted their target price on Pinterest from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Susquehanna reiterated a “positive” rating on shares of Pinterest in a research report on Wednesday, August 5th. Rosenblatt Securities increased their price target on Pinterest from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $28.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.90.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $23.53, for a total transaction of $1,102,968.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Donnelly Julia Brau sold 59,096 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the completion of the sale, the chief financial officer directly owned 817,409 shares in the company, valued at approximately $19,192,763.32. This represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 508,469 shares of company stock worth $11,374,640. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Stock Down 2.2%

Shares of NYSE PINS opened at $21.23 on Wednesday. The firm’s 50-day moving average price is $22.88 and its 200-day moving average price is $20.54. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 62.44, a P/E/G ratio of 1.38 and a beta of 0.90. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $38.57.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.59 EPS for the current fiscal year.

Pinterest 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.