TD Asset Management Inc Acquires 142,670 Shares of Pinterest, Inc. $PINS

TD Asset Management Inc increased its stake in Pinterest, Inc. (NYSE:PINS) by 89.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 302,030 shares of the company’s stock after buying an additional 142,670 shares during the quarter. TD Asset Management Inc’s holdings in Pinterest were worth $9,716,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Pinterest by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock worth $1,961,933,000 after acquiring an additional 3,044,674 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Pinterest by 15.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after purchasing an additional 2,319,964 shares during the period. Franklin Resources Inc. lifted its stake in shares of Pinterest by 4.4% in the 2nd quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock worth $604,673,000 after purchasing an additional 718,105 shares during the period. State Street Corp increased its holdings in Pinterest by 3.8% during the second quarter. State Street Corp now owns 13,855,047 shares of the company’s stock valued at $496,842,000 after buying an additional 504,281 shares during the last quarter. Finally, Norges Bank bought a new position in Pinterest in the second quarter worth approximately $477,853,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Up 2.1%

Shares of PINS stock opened at $17.49 on Tuesday. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 1.21 and a beta of 0.93. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The company’s 50 day moving average is $22.56 and its 200 day moving average is $28.29.

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

Analysts Set New Price Targets

Several research firms have recently commented on PINS. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a research note on Monday, December 29th. Oppenheimer reduced their target price on shares of Pinterest from $36.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Morgan Stanley upped their price target on shares of Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Rosenblatt Securities lowered their target price on shares of Pinterest from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Finally, Roth Mkm lowered their price objective on Pinterest from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.87.

Insider Activity at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 699,773 shares in the company, valued at $18,096,129.78. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the sale, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 33,407 shares of company stock worth $855,925. 7.11% of the stock is owned by corporate insiders.

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.