Burney Co. Has $3.70 Million Stock Holdings in Pinterest, Inc. $PINS

Burney Co. lifted its position in Pinterest, Inc. (NYSE:PINS) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,109 shares of the company’s stock after buying an additional 21,548 shares during the quarter. Burney Co.’s holdings in Pinterest were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PINS. Renaissance Group LLC boosted its stake in 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 in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Pinterest by 243.1% during 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 during the period. Norges Bank acquired a new stake in shares of Pinterest in the 2nd quarter valued at $477,853,000. KLP Kapitalforvaltning AS grew its holdings in shares of Pinterest by 8.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after purchasing an additional 30,500 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Pinterest by 101.2% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock worth $3,875,000 after purchasing an additional 54,365 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a research report on Monday, December 22nd. Bank of America reduced their target price on Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 price target (down from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Finally, BMO Capital Markets decreased their target price on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.97.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares in the company, valued at $8,099,644.46. The trade was a 19.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.06% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $26.14 on Friday. The stock has a market capitalization of $17.66 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The stock has a fifty day moving average of $27.98 and a 200-day moving average of $32.86.

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

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.