Allianz SE Has $3.93 Million Holdings in Pinterest, Inc. $PINS

Allianz SE lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 56.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,250 shares of the company’s stock after buying an additional 44,053 shares during the quarter. Allianz SE’s holdings in Pinterest were worth $3,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Pinterest by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock worth $1,961,933,000 after purchasing an additional 3,044,674 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Pinterest by 15.0% in the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after purchasing an additional 2,319,964 shares during the last quarter. Franklin Resources Inc. lifted its stake in Pinterest by 4.4% in the second quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock valued at $604,673,000 after buying an additional 718,105 shares during the period. State Street Corp boosted its holdings in Pinterest by 3.8% during the second quarter. State Street Corp now owns 13,855,047 shares of the company’s stock worth $496,842,000 after buying an additional 504,281 shares during the last quarter. Finally, Norges Bank bought a new position in Pinterest during the second quarter worth about $477,853,000. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Down 3.9%

NYSE:PINS opened at $17.11 on Friday. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The stock’s 50 day moving average price is $22.74 and its two-hundred day moving average price is $28.52.

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

Analysts Set New Price Targets

PINS has been the subject of a number of recent analyst reports. KeyCorp lowered their price target on Pinterest from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, February 3rd. Evercore set a $25.00 price objective on shares of Pinterest and gave the company an “in-line” rating in a report on Friday, February 13th. Guggenheim cut their target price on shares of Pinterest from $38.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Rosenblatt Securities reduced their price target on shares of Pinterest from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $21.00 price objective (down from $33.00) on shares of Pinterest in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eighteen have given a Hold rating to the stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.87.

Insider Transactions at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $155,160.00. Following the completion of the sale, the insider directly owned 699,773 shares in the company, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’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 transaction, the chief financial officer directly owned 540,358 shares in the company, valued at approximately $13,973,657.88. This trade represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 33,407 shares of company stock valued at $855,925. Insiders own 7.06% of the company’s stock.

Pinterest Company 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.