Putnam Investments LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 537,736 shares of the company’s stock after purchasing an additional 68,118 shares during the period. Putnam Investments LLC owned about 0.08% of Pinterest worth $14,664,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PINS. Cohanzick Management LLC purchased a new stake in Pinterest in the 1st quarter worth about $25,000. BOKF NA purchased a new stake in Pinterest in the 1st quarter worth about $28,000. Private Trust Co. NA lifted its stake in Pinterest by 315.3% in the 1st quarter. Private Trust Co. NA now owns 1,142 shares of the company’s stock worth $31,000 after acquiring an additional 867 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in Pinterest in the 1st quarter worth about $35,000. Finally, CI Investments Inc. lifted its stake in Pinterest by 114.2% in the 4th quarter. CI Investments Inc. now owns 1,634 shares of the company’s stock worth $40,000 after acquiring an additional 871 shares in the last quarter. 72.63% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PINS has been the topic of several research reports. Robert W. Baird upped their target price on Pinterest from $30.00 to $34.00 in a research report on Wednesday, August 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 target price on shares of Pinterest in a research report on Tuesday, August 22nd. Wells Fargo & Company upped their target price on Pinterest from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Rosenblatt Securities raised Pinterest from a “neutral” rating to a “buy” rating and upped their target price for the stock from $27.00 to $35.00 in a research report on Wednesday, August 2nd. Finally, The Goldman Sachs Group upped their target price on Pinterest from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.58.
Insider Buying and Selling
In related news, Director Jeffrey D. Jordan sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $30.70, for a total transaction of $76,750.00. Following the completion of the transaction, the director now owns 169,215 shares in the company, valued at approximately $5,194,900.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeffrey D. Jordan sold 2,500 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $30.70, for a total transaction of $76,750.00. Following the completion of the sale, the director now directly owns 169,215 shares of the company’s stock, valued at approximately $5,194,900.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Benjamin Silbermann sold 130,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $26.00, for a total value of $3,380,000.00. The disclosure for this sale can be found here. Insiders sold 618,413 shares of company stock worth $16,873,466 in the last 90 days. 6.85% of the stock is owned by company insiders.
Pinterest Trading Down 1.1 %
Shares of PINS stock opened at $26.01 on Friday. The stock has a 50 day moving average of $27.52 and a two-hundred day moving average of $26.12. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $30.86. The company has a market capitalization of $17.42 billion, a P/E ratio of -60.48, a P/E/G ratio of 88.24 and a beta of 1.03.
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $708.03 million during the quarter, compared to the consensus estimate of $698.28 million. Pinterest had a negative return on equity of 4.59% and a negative net margin of 10.14%. Sell-side analysts predict that Pinterest, Inc. will post 0.01 earnings per share for the current fiscal year.
Pinterest Company Profile
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
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