Pinterest, Inc. $PINS Shares Acquired by Aberdeen Group plc

Aberdeen Group plc grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 40.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,567 shares of the company’s stock after purchasing an additional 114,831 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Pinterest worth $13,347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in shares of Pinterest by 30.4% during the third quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock worth $33,333,000 after acquiring an additional 241,527 shares during the period. Peak Retirement Planning Inc. purchased a new position in shares of Pinterest in the 3rd quarter valued at about $1,850,000. Allspring Global Investments Holdings LLC raised its stake in Pinterest by 15.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after buying an additional 110,089 shares in the last quarter. Renaissance Group LLC lifted its holdings in Pinterest by 4.5% during the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after buying an additional 43,541 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Pinterest by 243.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after purchasing an additional 49,204 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total value of $50,583.58. Following the sale, the insider owned 695,187 shares in the company, valued at $15,335,825.22. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction 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 transaction, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 33,407 shares of company stock valued at $855,925. Insiders own 7.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PINS shares. Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down from $35.00) on shares of Pinterest in a research report on Friday, February 13th. Citigroup downgraded Pinterest from a “buy” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $19.00 in a report on Friday, February 13th. Royal Bank Of Canada downgraded Pinterest from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $38.00 to $17.00 in a research note on Friday, February 13th. Zacks Research upgraded Pinterest from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Oppenheimer decreased their price objective on Pinterest from $36.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eighteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.87.

Pinterest Stock Performance

NYSE:PINS opened at $16.78 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The stock has a fifty day moving average price of $23.78 and a two-hundred day moving average price of $29.37. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 0.86 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current 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.