Federated Hermes Inc. Has $29.33 Million Stake in Pinterest, Inc. (NYSE:PINS)

Federated Hermes Inc. grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 94.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 791,776 shares of the company’s stock after buying an additional 384,319 shares during the period. Federated Hermes Inc.’s holdings in Pinterest were worth $29,327,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PINS. Vanguard Group Inc. raised its holdings in Pinterest by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after acquiring an additional 958,619 shares in the last quarter. BlackRock Inc. raised its stake in shares of Pinterest by 7.4% in the first quarter. BlackRock Inc. now owns 33,930,328 shares of the company’s stock valued at $925,280,000 after purchasing an additional 2,349,424 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Pinterest by 28.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,743,947 shares of the company’s stock worth $702,039,000 after purchasing an additional 5,670,073 shares during the period. Macquarie Group Ltd. lifted its position in Pinterest by 1.5% in the second quarter. Macquarie Group Ltd. now owns 13,145,182 shares of the company’s stock worth $238,716,000 after purchasing an additional 191,507 shares during the period. Finally, State Street Corp boosted its stake in Pinterest by 2.0% during the first quarter. State Street Corp now owns 12,143,900 shares of the company’s stock worth $298,861,000 after buying an additional 235,403 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PINS shares. Piper Sandler reissued an “overweight” rating and issued a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Stifel Nicolaus raised their target price on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Evercore ISI boosted their price target on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Susquehanna increased their price objective on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Finally, Roth Mkm boosted their target price on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.97.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock worth $6,525,231 in the last ninety days. Company insiders own 6.85% of the company’s stock.

Pinterest Stock Performance

Shares of Pinterest stock opened at $32.40 on Friday. The firm has a fifty day moving average of $34.79 and a two-hundred day moving average of $34.03. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of -539.91, a PEG ratio of 4.44 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. As a group, research analysts forecast that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.