Federated Hermes Inc. Boosts Stake in Pinterest, Inc. $PINS

Federated Hermes Inc. increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 9.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 489,786 shares of the company’s stock after acquiring an additional 43,290 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Pinterest worth $17,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC acquired a new stake in Pinterest in the second quarter valued at approximately $696,000. Ardmore Road Asset Management LP purchased a new position in shares of Pinterest during the 2nd quarter valued at approximately $25,102,000. M Holdings Securities Inc. purchased a new position in shares of Pinterest during the 2nd quarter valued at approximately $768,000. Mirabella Financial Services LLP acquired a new stake in Pinterest in the 2nd quarter valued at $2,117,000. Finally, Dynamic Wealth Strategies LLC grew its stake in Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $30.00 target price (down previously from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. Piper Sandler reiterated a “neutral” rating and set a $33.00 price objective (down from $35.00) on shares of Pinterest in a research note on Wednesday, November 5th. Bank of America reduced their target price on Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group decreased their target price on Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company dropped their price target on Pinterest from $42.00 to $35.00 and set an “overweight” 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-one have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.97.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 301,214 shares in the company, valued at $8,099,644.46. The trade was a 19.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were 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 of the company’s stock, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 301,042 shares of company stock valued at $10,087,667. 7.06% of the stock is owned by company insiders.

Pinterest Stock Performance

NYSE:PINS opened at $27.81 on Thursday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The stock has a market cap of $18.79 billion, a PE ratio of 9.66, a P/E/G ratio of 1.72 and a beta of 0.89. The stock has a 50 day moving average price of $29.42 and a 200 day moving average price of $33.41.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $665.93 million for the quarter. As a group, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Company 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.