Nisa Investment Advisors LLC Acquires 25,275 Shares of Pinterest, Inc. $PINS

Nisa Investment Advisors LLC increased its holdings in Pinterest, Inc. (NYSE:PINS) by 188.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,665 shares of the company’s stock after buying an additional 25,275 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pinterest were worth $1,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Pinterest by 15.0% in 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 during the period. Franklin Resources Inc. grew its position in shares of Pinterest by 4.4% during the 2nd quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock valued at $604,673,000 after acquiring an additional 718,105 shares during the period. State Street Corp increased its stake in shares of Pinterest by 3.8% in the 2nd quarter. State Street Corp now owns 13,855,047 shares of the company’s stock worth $496,842,000 after purchasing an additional 504,281 shares in the last quarter. Norges Bank bought a new position in Pinterest in the 2nd quarter worth $477,853,000. Finally, Swedbank AB lifted its position in Pinterest by 13.6% during the third quarter. Swedbank AB now owns 8,441,986 shares of the company’s stock valued at $271,579,000 after purchasing an additional 1,011,101 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction 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 approximately $13,973,657.88. The trade was a 4.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Malik Ducard sold 6,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the transaction, the insider owned 699,773 shares in the company, valued at $18,096,129.78. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 105,161 shares of company stock valued at $2,796,466 over the last three months. 7.06% of the stock is owned by company insiders.

Pinterest Price Performance

PINS stock opened at $27.08 on Thursday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The business has a 50 day simple moving average of $26.39 and a two-hundred day simple moving average of $32.12. The company has a market capitalization of $18.29 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 1.26 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.04). Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PINS. Mizuho initiated coverage on Pinterest in a research report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price target for the company. BMO Capital Markets cut their price objective on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Wells Fargo & Company decreased their target price on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler reaffirmed a “neutral” rating and set a $33.00 price target (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pinterest in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.93.

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.