DnB Asset Management AS Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

DnB Asset Management AS boosted its holdings in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 86,980 shares of the company’s stock after purchasing an additional 4,246 shares during the quarter. DnB Asset Management AS’s holdings in Pinterest were worth $1,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PINS. Dimensional Fund Advisors LP increased its holdings in shares of Pinterest by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 440,981 shares of the company’s stock valued at $16,034,000 after acquiring an additional 15,111 shares during the last quarter. abrdn plc increased its holdings in shares of Pinterest by 1.1% in the 4th quarter. abrdn plc now owns 63,306 shares of the company’s stock valued at $2,301,000 after acquiring an additional 718 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Pinterest by 31.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 49,280 shares of the company’s stock valued at $1,791,000 after acquiring an additional 11,730 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Pinterest by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,708,052 shares of the company’s stock valued at $62,088,000 after acquiring an additional 61,963 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Pinterest by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 7,182,363 shares of the company’s stock valued at $260,736,000 after acquiring an additional 378,599 shares during the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Pinterest from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. The Goldman Sachs Group reduced their price objective on Pinterest from $35.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 9th. UBS Group boosted their price objective on Pinterest from $19.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. KeyCorp boosted their price objective on Pinterest from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Piper Sandler reduced their price target on Pinterest from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, August 2nd. Seventeen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.08.

Insider Activity

In other news, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $20.12, for a total transaction of $1,111,448.92. Following the transaction, the chief financial officer now owns 641,025 shares in the company, valued at $12,897,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William J. Ready acquired 222,551 shares of Pinterest stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $22.47 per share, with a total value of $5,000,720.97. Following the completion of the transaction, the chief executive officer now owns 222,551 shares in the company, valued at $5,000,720.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction on 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 sale, the chief financial officer now directly owns 641,025 shares of the company’s stock, valued at approximately $12,897,423. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,750 shares of company stock worth $2,919,216. 7.58% of the stock is owned by corporate insiders.

Pinterest Trading Down 3.4 %

PINS stock opened at $23.91 on Thursday. The firm has a 50-day moving average of $22.19 and a two-hundred day moving average of $21.80. The firm has a market capitalization of $16.10 billion, a PE ratio of 77.13 and a beta of 1.09. Pinterest, Inc. has a one year low of $16.14 and a one year high of $66.00.

Pinterest (NYSE:PINSGet Rating) last announced its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). The firm had revenue of $666.00 million for the quarter, compared to analyst estimates of $663.19 million. Pinterest had a net margin of 8.10% and a return on equity of 8.35%. Pinterest’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. On average, equities research analysts anticipate that Pinterest, Inc. will post -0.15 earnings per share for the current year.

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.

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Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINSGet Rating).

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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