abrdn plc trimmed its position in shares of Pinterest, Inc. (NYSE:PINS – Get 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.
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
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
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
- MarketBeat Podcast: Find Investing Opportunities For The Rest of 2022
- The Colgate-Palmolive Growth Outlook BrightensÂ
- Deep Value High Yield Newell Brands Is Ready To BottomÂ
- These Stocks Outperformed Last Time There Was A Recession
- Does Rivian’s Stock Still Have A Future?
Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.