Pinterest, Inc. (NYSE:PINS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,821 shares of the company’s stock after selling 31,317 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Pinterest were worth $7,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Pinterest by 1.9% in the first quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after purchasing an additional 958,619 shares during the period. Flossbach Von Storch AG increased its stake in shares of Pinterest by 15.5% in the first quarter. Flossbach Von Storch AG now owns 31,376,971 shares of the company’s stock valued at $772,187,000 after purchasing an additional 4,211,422 shares during the period. Harris Associates L P increased 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 valued at $456,731,000 after purchasing an additional 18,462,331 shares during the period. State Street Corp increased its stake in shares of Pinterest by 2.0% in the first quarter. State Street Corp now owns 12,143,900 shares of the company’s stock valued at $298,861,000 after purchasing an additional 235,403 shares during the period. Finally, Capital International Investors increased its stake in shares of Pinterest by 33.1% in the first quarter. Capital International Investors now owns 11,825,108 shares of the company’s stock valued at $291,016,000 after purchasing an additional 2,940,932 shares during the period. Institutional investors and hedge funds own 70.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PINS shares. UBS Group raised their price target on shares of Pinterest from $19.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Susquehanna Bancshares upgraded shares of Pinterest to a “positive” rating and raised their price objective for the company from $22.00 to $35.00 in a research note on Tuesday, August 2nd. Atlantic Securities set a $22.00 price objective on shares of Pinterest in a research note on Tuesday, July 19th. TheStreet upgraded shares of Pinterest from a “d+” rating to a “c-” rating in a research note on Tuesday, August 16th. Finally, Morgan Stanley lowered their price objective on shares of Pinterest from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 19th. Seventeen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest has an average rating of “Hold” and a consensus price target of $29.08.

Pinterest Stock Performance

Pinterest stock opened at $23.91 on Thursday. The company has a 50 day moving average price of $22.19 and a 200 day moving average price of $21.80. Pinterest, Inc. has a 52 week low of $16.14 and a 52 week high of $66.00. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 77.13 and a beta of 1.09.

Pinterest (NYSE:PINSGet Rating) last released its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The company had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $663.19 million. During the same quarter in the previous year, the company earned $0.11 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Pinterest, Inc. will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, SVP Naveen Gavini sold 4,756 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $25.47, for a total value of $121,135.32. Following the completion of the sale, the senior vice president now owns 492,141 shares in the company, valued at approximately $12,534,831.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Pinterest news, CEO William J. Ready purchased 222,551 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $22.47 per share, for a total transaction of $5,000,720.97. Following the acquisition, the chief executive officer now owns 222,551 shares of the company’s stock, valued at $5,000,720.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Naveen Gavini sold 4,756 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $25.47, for a total transaction of $121,135.32. Following the transaction, the senior vice president now owns 492,141 shares in the company, valued at approximately $12,534,831.27. The disclosure for this sale can be found here. Insiders sold a total of 124,750 shares of company stock worth $2,919,216 in the last quarter. 7.58% of the stock is currently owned by corporate insiders.

Pinterest Company Profile

(Get Rating)

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.

Featured Articles

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)

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.