Davis Selected Advisers Invests $253.89 Million in Pinterest, Inc. $PINS

Davis Selected Advisers bought a new position in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,892,057 shares of the company’s stock, valued at approximately $253,887,000. Pinterest makes up 1.3% of Davis Selected Advisers’ portfolio, making the stock its 22nd largest holding. Davis Selected Advisers owned about 1.17% of Pinterest as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PINS. Norges Bank purchased a new stake in Pinterest during the second quarter valued at about $477,853,000. Balyasny Asset Management L.P. boosted its holdings in shares of Pinterest by 1,138.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after purchasing an additional 4,230,125 shares in the last quarter. Man Group plc increased its position in shares of Pinterest by 185.7% during the 3rd quarter. Man Group plc now owns 4,983,427 shares of the company’s stock valued at $160,317,000 after purchasing an additional 3,239,222 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Pinterest by 18.5% during the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock valued at $685,899,000 after purchasing an additional 3,213,241 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Pinterest by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock valued at $1,961,933,000 after buying an additional 3,044,674 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

PINS has been the subject of a number of recent research reports. Robert W. Baird restated a “neutral” rating and issued a $20.00 target price (down from $35.00) on shares of Pinterest in a research report on Friday, February 13th. Evercore set a $25.00 price target on shares of Pinterest and gave the company an “in-line” rating in a research report on Friday, February 13th. Wedbush decreased their price target on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein restated an “outperform” rating and issued a $20.00 price objective on shares of Pinterest in a report on Friday, February 13th. Finally, Royal Bank Of Canada cut shares of Pinterest from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $38.00 to $17.00 in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.87.

Pinterest Price Performance

Shares of PINS stock opened at $18.78 on Thursday. The stock has a market capitalization of $12.49 billion, a PE ratio of 30.78, a P/E/G ratio of 1.23 and a beta of 0.93. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93. The business has a 50-day moving average of $20.83 and a 200 day moving average of $26.93.

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

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the company’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 $590,151.06. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Malik Ducard sold 6,000 shares of the 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 sale, the insider directly owned 699,773 shares of the company’s stock, valued at $18,096,129.78. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,457 shares of company stock worth $876,925 in the last 90 days. Company insiders own 7.06% of the company’s stock.

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.