Pinterest, Inc. (NYSE:PINS) Shares Acquired by abrdn plc

abrdn plc grew its stake in Pinterest, Inc. (NYSE:PINS) by 96.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,197 shares of the company’s stock after buying an additional 105,616 shares during the period. abrdn plc’s holdings in Pinterest were worth $7,971,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PINS. AE Wealth Management LLC boosted its holdings in shares of Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after buying an additional 2,662 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Pinterest by 4.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 281,156 shares of the company’s stock worth $7,600,000 after purchasing an additional 11,811 shares during the period. Simplicity Solutions LLC boosted its stake in Pinterest by 6.8% during the 3rd quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock worth $216,000 after purchasing an additional 510 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in Pinterest by 87.0% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 31,111 shares of the company’s stock worth $841,000 after purchasing an additional 14,474 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Pinterest by 9.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock worth $3,857,000 after purchasing an additional 12,300 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $33.97 on Friday. The firm has a 50-day moving average price of $34.56 and a two-hundred day moving average price of $34.14. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. On average, equities analysts anticipate that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PINS shares. Piper Sandler reiterated an “overweight” rating and set a $48.00 price target on shares of Pinterest in a research note on Tuesday, March 26th. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, January 18th. Evercore ISI raised their target price on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Royal Bank of Canada raised their target price on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Wedbush raised their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

Pinterest 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.