Mirae Asset Global Investments Co. Ltd. cut its stake in Pinterest, Inc. (NYSE:PINS – Get Rating) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 289,821 shares of the company’s stock after selling 31,317 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Pinterest were worth $7,133,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of PINS. Harris Associates L P raised its stake in shares of Pinterest by 19,142.5% in the first quarter. Harris Associates L P now owns 18,558,778 shares of the company’s stock worth $456,731,000 after acquiring an additional 18,462,331 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after buying an additional 8,341,222 shares during the last quarter. Norges Bank bought a new stake in shares of Pinterest during the fourth quarter worth approximately $178,278,000. Flossbach Von Storch AG raised its stake in shares of Pinterest by 15.5% during the first quarter. Flossbach Von Storch AG now owns 31,376,971 shares of the company’s stock worth $772,187,000 after buying an additional 4,211,422 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Pinterest by 909.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,222,151 shares of the company’s stock worth $153,475,000 after buying an additional 3,803,813 shares during the last quarter. 70.78% of the stock is owned by institutional investors.
Analyst Ratings Changes
PINS has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Pinterest from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 2nd. KeyCorp boosted their price target on shares of Pinterest from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 2nd. Atlantic Securities set a $22.00 price objective on shares of Pinterest in a report on Tuesday, July 19th. Wells Fargo & Company decreased their price objective on shares of Pinterest from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, August 2nd. Finally, Susquehanna upgraded shares of Pinterest from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $22.00 to $35.00 in a report on Tuesday, August 2nd. Seventeen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has a consensus rating of “Hold” and an average price target of $29.08.
Insider Buying and Selling
Pinterest Trading Down 3.4 %
Shares of PINS opened at $23.91 on Thursday. Pinterest, Inc. has a 12 month low of $16.14 and a 12 month high of $66.00. The firm has a fifty day simple moving average of $22.19 and a 200 day simple moving average of $21.80. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 77.13 and a beta of 1.09.
Pinterest (NYSE:PINS – Get Rating) last announced its earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The business had revenue of $666.00 million for the quarter, compared to analyst estimates of $663.19 million. During the same quarter in the previous year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Pinterest, Inc. will post -0.15 earnings per share for the current fiscal year.
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.
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
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