abrdn plc Decreases Stock Position in Pinterest, Inc. (NYSE:PINS)

abrdn plc trimmed its position in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 8.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,148 shares of the company’s stock after selling 5,158 shares during the quarter. abrdn plc’s holdings in Pinterest were worth $1,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PINS. Acadian Asset Management LLC grew its holdings in Pinterest by 48.9% during the 4th quarter. Acadian Asset Management LLC now owns 11,152 shares of the company’s stock valued at $404,000 after purchasing an additional 3,663 shares during the last quarter. UMB Bank N A MO grew its stake in shares of Pinterest by 117.1% during the first quarter. UMB Bank N A MO now owns 3,415 shares of the company’s stock valued at $84,000 after buying an additional 1,842 shares during the last quarter. Chicago Capital LLC raised its holdings in shares of Pinterest by 72.7% in the first quarter. Chicago Capital LLC now owns 1,245,306 shares of the company’s stock worth $30,647,000 after buying an additional 524,424 shares during the period. Rhumbline Advisers lifted its stake in shares of Pinterest by 4.3% during the 4th quarter. Rhumbline Advisers now owns 533,782 shares of the company’s stock worth $19,403,000 after acquiring an additional 22,156 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Pinterest by 3.0% in the 4th quarter. New York State Common Retirement Fund now owns 658,819 shares of the company’s stock valued at $23,948,000 after acquiring an additional 19,115 shares during the last quarter. Institutional investors own 63.76% of the company’s stock.

Pinterest Stock Performance

Pinterest stock opened at $19.99 on Tuesday. Pinterest, Inc. has a one year low of $16.14 and a one year high of $66.00. The stock has a market cap of $13.26 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 5.48 and a beta of 1.19. The stock has a 50-day moving average of $19.30 and a two-hundred day moving average of $22.71.

Pinterest (NYSE:PINSGet Rating) last announced its earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). Pinterest had a return on equity of 12.69% and a net margin of 12.48%. The business had revenue of $666.00 million for the quarter, compared to analyst estimates of $663.19 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Evan Sharp sold 422,399 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $17.52, for a total value of $7,400,430.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Evan Sharp sold 422,399 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.52, for a total transaction of $7,400,430.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Todd R. Morgenfeld sold 55,241 shares of the stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $20.12, for a total value of $1,111,448.92. Following the completion of the transaction, the chief financial officer now owns 641,025 shares in the company, valued at approximately $12,897,423. The disclosure for this sale can be found here. In the last quarter, insiders sold 548,619 shares of company stock worth $10,307,146. Insiders own 7.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PINS. The Goldman Sachs Group decreased their target price on Pinterest from $35.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 9th. KeyCorp dropped their target price on shares of Pinterest from $36.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 26th. Morgan Stanley reduced their target price on shares of Pinterest from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. UBS Group dropped their price objective on Pinterest from $35.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, June 16th. Finally, Evercore ISI decreased their target price on Pinterest from $34.00 to $24.00 and set an “in-line” rating for the company in a research report on Thursday, July 7th. Nineteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.71.

Pinterest Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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