Pinterest, Inc. $PINS Shares Purchased by M&G PLC

M&G PLC grew its stake in Pinterest, Inc. (NYSE:PINS) by 132.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,416,640 shares of the company’s stock after purchasing an additional 806,097 shares during the quarter. M&G PLC’s holdings in Pinterest were worth $26,916,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Pinterest by 271.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock worth $109,831,000 after purchasing an additional 4,375,000 shares during the period. Bank of America Corp DE lifted its holdings in shares of Pinterest by 15.4% in the 1st quarter. Bank of America Corp DE now owns 5,848,116 shares of the company’s stock worth $107,254,000 after buying an additional 779,998 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Pinterest by 300.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company’s stock worth $83,084,000 after buying an additional 3,299,884 shares during the period. Bank of New York Mellon Corp grew its position in shares of Pinterest by 11.1% during the 1st quarter. Bank of New York Mellon Corp now owns 4,014,388 shares of the company’s stock worth $73,624,000 after buying an additional 401,619 shares in the last quarter. Finally, Senvest Management LLC grew its position in shares of Pinterest by 5.1% during the 1st quarter. Senvest Management LLC now owns 3,594,581 shares of the company’s stock worth $65,925,000 after buying an additional 175,000 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley raised their price target on Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Wells Fargo & Company lowered their price objective on shares of Pinterest from $31.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. KeyCorp dropped their target price on shares of Pinterest from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, November 2nd. JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Pinterest in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pinterest presently has an average rating of “Hold” and an average target price of $25.97.

Pinterest Stock Performance

Shares of PINS opened at $19.02 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.28 and a current ratio of 4.28. The stock has a 50-day moving average of $20.23 and a two-hundred day moving average of $20.60. The stock has a market cap of $10.65 billion, a P/E ratio of 66.31, a P/E/G ratio of 1.70 and a beta of 0.98. Pinterest, Inc. has a one year low of $13.84 and a one year high of $27.96.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). Pinterest had a return on equity of 6.58% and a net margin of 3.81%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts predict that Pinterest, Inc. will post 0.51 EPS for the current year.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 93,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $21.43, for a total transaction of $2,009,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 621,541 shares of company stock valued at $12,868,011. Corporate insiders own 8.09% of the company’s stock.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps people find ideas and plan projects across interests such as home décor, food, fashion, travel and personal style. Users can save images and videos, known as Pins, to collections called boards and explore related recommendations through the company’s website and mobile apps.

The company generates revenue primarily through advertising. Its advertising products allow businesses to promote content to users, while shopping features and tools help merchants showcase products and connect with people as they explore ideas and make plans.

Founded in 2010 by Ben Silbermann, Evan Sharp and Paul Sciarra, Pinterest is headquartered in San Francisco and serves users in markets around the world.