Pinterest, Inc. (NYSE:PINS) Shares Bought by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,652 shares of the company’s stock after acquiring an additional 6,540 shares during the period. Gulf International Bank UK Ltd’s holdings in Pinterest were worth $7,788,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD lifted its position in shares of Pinterest by 1,970.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,442,892 shares of the company’s stock valued at $1,439,357,000 after acquiring an additional 18,503,966 shares during the period. Morgan Stanley lifted its position in shares of Pinterest by 35.0% during the 1st quarter. Morgan Stanley now owns 27,747,360 shares of the company’s stock valued at $2,054,136,000 after acquiring an additional 7,193,041 shares during the period. Flossbach Von Storch AG lifted its position in shares of Pinterest by 46.2% during the 2nd quarter. Flossbach Von Storch AG now owns 22,495,017 shares of the company’s stock valued at $1,775,982,000 after acquiring an additional 7,111,177 shares during the period. Baillie Gifford & Co. lifted its position in shares of Pinterest by 1,479,469.8% during the 1st quarter. Baillie Gifford & Co. now owns 6,273,376 shares of the company’s stock valued at $464,418,000 after acquiring an additional 6,272,952 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in shares of Pinterest by 323.0% during the 1st quarter. Neuberger Berman Group LLC now owns 4,634,686 shares of the company’s stock valued at $343,068,000 after acquiring an additional 3,538,891 shares during the period. Institutional investors own 64.27% of the company’s stock.

In related news, CEO Benjamin Silbermann sold 25,000 shares of the company’s stock in a transaction on Thursday, June 17th. The shares were sold at an average price of $72.26, for a total transaction of $1,806,500.00. Following the completion of the sale, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $1,806,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Naveen Gavini sold 29,039 shares of the company’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $70.83, for a total transaction of $2,056,832.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 860,530 shares of company stock valued at $61,057,997. 8.45% of the stock is owned by corporate insiders.

Shares of NYSE PINS opened at $54.43 on Wednesday. Pinterest, Inc. has a 52-week low of $35.49 and a 52-week high of $89.90. The firm has a fifty day moving average of $62.23 and a 200-day moving average of $67.69. The stock has a market capitalization of $35.09 billion, a PE ratio of 259.19 and a beta of 1.22.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.36. Pinterest had a net margin of 7.18% and a return on equity of 12.09%. The company had revenue of $613.21 million during the quarter, compared to analysts’ expectations of $560.93 million. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.25 earnings per share for the current fiscal year.

PINS has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Pinterest in a research report on Monday. They set a “neutral” rating and a $57.00 price objective for the company. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a research report on Monday, August 30th. JPMorgan Chase & Co. downgraded Pinterest to a “hold” rating and set a $68.00 price objective for the company. in a research report on Thursday, August 5th. Robert W. Baird cut their price objective on Pinterest from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, July 30th. Finally, Morgan Stanley cut their price objective on Pinterest from $83.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, July 30th. Thirteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $76.40.

About Pinterest

Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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