Jain Global LLC Purchases 227,119 Shares of Pinterest, Inc. $PINS

Jain Global LLC increased its position in Pinterest, Inc. (NYSE:PINS) by 3,703.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,251 shares of the company’s stock after buying an additional 227,119 shares during the quarter. Jain Global LLC’s holdings in Pinterest were worth $7,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC raised its stake in shares of Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after acquiring an additional 713 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after acquiring an additional 883 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after acquiring an additional 419 shares during the last quarter. Fifth Third Bancorp grew its holdings in Pinterest by 2,409.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after acquiring an additional 1,325 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Pinterest during the 2nd quarter worth about $45,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, December 24th. The shares were 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 trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the transaction, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This represents a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 34,457 shares of company stock valued at $876,925. 7.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PINS shares. Guggenheim dropped their price objective on Pinterest from $38.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinterest in a report on Monday, December 29th. Morgan Stanley boosted their price target on Pinterest from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $23.00 price objective on shares of Pinterest in a research report on Friday, February 13th. Finally, Roth Mkm lowered their price objective on shares of Pinterest from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.87.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $18.26 on Tuesday. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The business’s 50 day simple moving average is $21.17 and its two-hundred day simple moving average is $27.12. The firm has a market cap of $12.15 billion, a P/E ratio of 29.94, a PEG ratio of 1.21 and a beta of 0.93.

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