Pinterest, Inc. $PINS Stake Decreased by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 77.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,081 shares of the company’s stock after selling 1,665,042 shares during the quarter. Acadian Asset Management LLC owned about 0.07% of Pinterest worth $17,779,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PINS. Oppenheimer Asset Management Inc. raised its position in shares of Pinterest by 243.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after buying an additional 49,204 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after acquiring an additional 54,365 shares in the last quarter. Truist Financial Corp increased its stake in shares of Pinterest by 15.6% during the second quarter. Truist Financial Corp now owns 98,363 shares of the company’s stock valued at $3,527,000 after acquiring an additional 13,267 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Pinterest during the second quarter valued at approximately $848,000. Finally, Ninety One UK Ltd raised its holdings in Pinterest by 11.0% during the second quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock worth $239,872,000 after purchasing an additional 661,757 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PINS. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Pinterest in a report on Friday, August 8th. JPMorgan Chase & Co. decreased their target price on Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. KeyCorp lifted their target price on Pinterest from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $33.00 price target (down from $35.00) on shares of Pinterest in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.55.

Pinterest Price Performance

Shares of PINS opened at $27.38 on Wednesday. The company has a 50-day moving average of $33.20 and a two-hundred day moving average of $33.93. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.59 and a beta of 0.96. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million during the quarter. Analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the sale, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 640,236 shares of company stock worth $22,878,326. 7.11% of the stock is owned by corporate insiders.

About Pinterest

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.