Baillie Gifford & Co. Has $250.93 Million Stock Holdings in Pinterest, Inc. $PINS

Baillie Gifford & Co. lowered its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,800,244 shares of the company’s stock after selling 209,496 shares during the period. Baillie Gifford & Co. owned approximately 1.15% of Pinterest worth $250,934,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Pinterest during the 2nd quarter worth approximately $477,853,000. Balyasny Asset Management L.P. lifted its position in shares of Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after acquiring an additional 4,230,125 shares during the period. Ameriprise Financial Inc. boosted its stake in Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after acquiring an additional 2,319,964 shares in the last quarter. Congress Asset Management Co. acquired a new stake in Pinterest in the second quarter worth $82,516,000. Finally, Westfield Capital Management Co. LP bought a new stake in Pinterest in the second quarter valued at $71,221,000. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Wells Fargo & Company reduced their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Guggenheim decreased their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. UBS Group lowered their target price on Pinterest from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush downgraded shares of Pinterest from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $30.00 in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.64.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the transaction, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $26.18, for a total value of $60,030.74. Following the sale, the insider owned 697,480 shares in the company, valued at $18,260,026.40. This trade represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 105,161 shares of company stock valued at $2,796,466. Corporate insiders own 7.06% of the company’s stock.

Pinterest Trading Up 1.0%

Shares of Pinterest stock opened at $25.92 on Friday. The company has a market capitalization of $17.51 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The stock has a fifty day simple moving average of $26.24 and a 200 day simple moving average of $31.66. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Pinterest’s revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

About Pinterest

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.