Victory Capital Management Inc. Buys 6,258,628 Shares of Pinterest, Inc. $PINS

Victory Capital Management Inc. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 30.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,808,870 shares of the company’s stock after purchasing an additional 6,258,628 shares during the quarter. Victory Capital Management Inc.’s holdings in Pinterest were worth $694,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new stake in shares of Pinterest during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC increased its position in shares of Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp purchased a new stake in shares of Pinterest during the 4th quarter valued at about $36,000. Finally, Fifth Third Bancorp increased its position in shares of Pinterest by 2,409.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after purchasing an additional 1,325 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 5.7%

PINS stock opened at $20.28 on Friday. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 1.16 and a beta of 0.92. The business has a 50 day simple moving average of $19.98 and a two-hundred day simple moving average of $21.63.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on PINS shares. Barclays upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their price target on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Piper Sandler reissued a “neutral” rating and issued a $26.00 target price (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 2nd. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.40.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $21.78, for a total value of $1,020,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares of the company’s stock, valued at $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 124,237 shares of company stock worth $2,604,190 in the last three months. 8.09% of the stock is owned by company insiders.

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.