Allianz SE Buys New Position in Pinterest, Inc. $PINS

Allianz SE bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 78,197 shares of the company’s stock, valued at approximately $2,804,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Revolve Wealth Partners LLC bought a new stake in shares of Pinterest during the 4th quarter valued at $252,000. Envestnet Asset Management Inc. lifted its position in Pinterest by 8.5% during the first quarter. Envestnet Asset Management Inc. now owns 670,132 shares of the company’s stock valued at $20,774,000 after purchasing an additional 52,563 shares in the last quarter. Cerity Partners LLC grew its holdings in Pinterest by 28.1% during the first quarter. Cerity Partners LLC now owns 138,098 shares of the company’s stock valued at $4,281,000 after purchasing an additional 30,317 shares during the period. CWM LLC grew its holdings in Pinterest by 41.4% during the first quarter. CWM LLC now owns 175,655 shares of the company’s stock valued at $5,445,000 after purchasing an additional 51,431 shares during the period. Finally, Signaturefd LLC increased its position in Pinterest by 18.2% in the first quarter. Signaturefd LLC now owns 9,795 shares of the company’s stock worth $304,000 after buying an additional 1,509 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the sale, the chief accounting officer owned 157,402 shares of the company’s stock, valued at $5,502,773.92. The trade was a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares in the company, valued at $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 714,283 shares of company stock valued at $24,869,450 in the last ninety days. Company insiders own 7.06% of the company’s stock.

Pinterest Stock Performance

PINS opened at $26.74 on Friday. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.61 and a beta of 0.96. The company has a fifty day moving average of $32.80 and a 200 day moving average of $33.83. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90.

Pinterest (NYSE:PINS) last announced 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 for the quarter. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PINS. Stifel Nicolaus lifted their price objective on Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Roth Capital decreased their target price on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $37.00 to $45.00 in a report on Monday, July 21st. Sanford C. Bernstein dropped their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Oppenheimer reissued an “outperform” rating on shares of Pinterest in a research note on Friday, August 8th. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $39.55.

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.