Allspring Global Investments Holdings LLC Buys 22,620 Shares of Pinterest, Inc. (NYSE:PINS)

Allspring Global Investments Holdings LLC grew its stake in Pinterest, Inc. (NYSE:PINSGet Rating) by 30,567.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,694 shares of the company’s stock after purchasing an additional 22,620 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pinterest were worth $528,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PINS. Bank of Nova Scotia raised its holdings in Pinterest by 632.6% in the 2nd quarter. Bank of Nova Scotia now owns 10,229,664 shares of the company’s stock worth $185,784,000 after purchasing an additional 8,833,290 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Pinterest by 262.8% in the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after acquiring an additional 8,341,222 shares in the last quarter. Natixis increased its stake in shares of Pinterest by 92.5% in the 2nd quarter. Natixis now owns 9,818,000 shares of the company’s stock worth $179,645,000 after acquiring an additional 4,718,191 shares in the last quarter. SRS Investment Management LLC increased its stake in shares of Pinterest by 80.1% in the 2nd quarter. SRS Investment Management LLC now owns 7,285,205 shares of the company’s stock worth $132,299,000 after acquiring an additional 3,239,511 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Pinterest by 33.1% in the 1st quarter. Capital International Investors now owns 11,825,108 shares of the company’s stock worth $291,016,000 after acquiring an additional 2,940,932 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In other news, CFO Todd R. Morgenfeld sold 55,241 shares of the stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $23.04, for a total value of $1,272,752.64. Following the transaction, the chief financial officer now owns 641,025 shares in the company, valued at approximately $14,769,216. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Pinterest news, CFO Todd R. Morgenfeld sold 55,241 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $23.04, for a total transaction of $1,272,752.64. Following the sale, the chief financial officer now owns 641,025 shares in the company, valued at approximately $14,769,216. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Naveen Gavini sold 4,756 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $24.50, for a total transaction of $116,522.00. Following the sale, the senior vice president now owns 464,979 shares in the company, valued at approximately $11,391,985.50. The disclosure for this sale can be found here. Insiders have sold 2,596,714 shares of company stock worth $63,584,714 in the last quarter. Company insiders own 7.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PINS. Morgan Stanley increased their price target on shares of Pinterest from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Barclays increased their price target on shares of Pinterest from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Citigroup increased their price objective on shares of Pinterest from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, October 31st. Royal Bank of Canada increased their price objective on shares of Pinterest from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, October 28th. Finally, Rosenblatt Securities increased their price objective on shares of Pinterest from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 15th. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.88.

Pinterest Stock Up 0.3 %

Shares of NYSE:PINS opened at $26.69 on Tuesday. The firm’s 50 day moving average price is $24.82 and its 200-day moving average price is $23.30. Pinterest, Inc. has a twelve month low of $16.14 and a twelve month high of $31.16. The stock has a market capitalization of $18.10 billion, a PE ratio of 381.34 and a beta of 0.97.

Pinterest (NYSE:PINSGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Pinterest had a net margin of 2.21% and a return on equity of 3.10%. The firm had revenue of $684.55 million for the quarter, compared to analysts’ expectations of $664.97 million. Analysts expect that Pinterest, Inc. will post -0.11 earnings per share for the current fiscal year.

Pinterest Company 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

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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