Allianz Asset Management GmbH Reduces Stake in Pinterest, Inc. (NYSE:PINS)

Allianz Asset Management GmbH decreased its holdings in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,025 shares of the company’s stock after selling 6,794 shares during the quarter. Allianz Asset Management GmbH’s holdings in Pinterest were worth $5,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest during the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. increased its holdings in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Pinterest in the 4th quarter valued at $43,000. Finally, Blue Trust Inc. boosted its stake in Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after purchasing an additional 557 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Roth Mkm boosted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Stifel Nicolaus increased their price target on shares of Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Loop Capital lifted their price objective on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a report on Monday, May 6th. Piper Sandler reiterated an “overweight” rating and set a $52.00 target price (up previously from $50.00) on shares of Pinterest in a research report on Thursday, May 23rd. Finally, BMO Capital Markets raised their price target on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.34.

View Our Latest Stock Analysis on PINS

Pinterest Stock Performance

Shares of NYSE:PINS opened at $40.68 on Wednesday. The business’s 50-day simple moving average is $37.78 and its 200 day simple moving average is $36.59. The company has a market cap of $27.79 billion, a P/E ratio of 193.72, a PEG ratio of 4.10 and a beta of 0.97. Pinterest, Inc. has a one year low of $23.59 and a one year high of $43.12.

Pinterest (NYSE:PINSGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Analysts predict that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Insiders have sold a total of 133,622 shares of company stock valued at $4,737,421 in the last three months. Corporate insiders own 7.11% of the company’s stock.

Pinterest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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