Los Angeles Capital Management LLC Reduces Stake in Pinterest, Inc. $PINS

Los Angeles Capital Management LLC lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 74.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 365,354 shares of the company’s stock after selling 1,047,378 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of Pinterest worth $9,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Pinterest by 30.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock worth $33,333,000 after buying an additional 241,527 shares during the period. Yousif Capital Management LLC lifted its holdings in Pinterest by 2,298.3% in the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after buying an additional 177,449 shares during the period. Wesbanco Bank Inc. purchased a new stake in Pinterest in the 3rd quarter worth approximately $2,280,000. Korea Investment CORP lifted its holdings in Pinterest by 82.7% in the 3rd quarter. Korea Investment CORP now owns 703,483 shares of the company’s stock worth $22,631,000 after buying an additional 318,351 shares during the period. Finally, Forsta AP Fonden lifted its holdings in Pinterest by 61.2% in the 4th quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock worth $10,289,000 after buying an additional 150,900 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PINS. Sanford C. Bernstein restated an “outperform” rating and issued a $20.00 target price on shares of Pinterest in a research note on Friday, February 13th. UBS Group raised their target price on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Bank of America restated a “neutral” rating and issued a $19.00 target price (down from $39.00) on shares of Pinterest in a research note on Friday, February 13th. Argus cut Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $26.00 target price (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Hold” and a consensus price target of $27.40.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares in the company, valued at approximately $549,000. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $20.50, for a total value of $960,937.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 77,362 shares of company stock worth $1,583,253. 8.09% of the stock is owned by insiders.

Pinterest Stock Up 2.4%

Shares of NYSE:PINS opened at $21.94 on Tuesday. The stock has a fifty day simple moving average of $19.72 and a two-hundred day simple moving average of $21.71. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 1.16 and a beta of 0.92. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. On average, research analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

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.