Groupe la Francaise Invests $3.49 Million in Pinterest, Inc. $PINS

Groupe la Francaise bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 97,631 shares of the company’s stock, valued at approximately $3,486,000.

Several other institutional investors have also bought and sold shares of PINS. Renaissance Group LLC grew its position in shares of Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after buying an additional 43,541 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after acquiring an additional 49,204 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in Pinterest by 8.0% during the second quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after buying an additional 30,500 shares during the period. Norges Bank acquired a new stake in Pinterest during the 2nd quarter worth $477,853,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Pinterest by 101.2% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock worth $3,875,000 after buying an additional 54,365 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Cowen reiterated a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. Bank of America decreased their price objective on Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wedbush reduced their price target on Pinterest from $44.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Mizuho initiated coverage on shares of Pinterest in a report on Monday, September 29th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Benchmark dropped their target price on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. One investment 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. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $39.10.

Pinterest Price Performance

NYSE PINS opened at $27.37 on Thursday. The company’s 50 day simple moving average is $29.99 and its 200 day simple moving average is $33.57. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The firm has a market capitalization of $18.49 billion, a PE ratio of 9.50, a P/E/G ratio of 1.63 and a beta of 0.89.

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

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the sale, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This represents a 19.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 403,125 shares of company stock worth $13,669,759. 7.06% of the stock is currently owned by company insiders.

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.