Edgestream Partners L.P. Raises Stake in Pinterest, Inc. $PINS

Edgestream Partners L.P. grew its position in Pinterest, Inc. (NYSE:PINS) by 32.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,553 shares of the company’s stock after purchasing an additional 99,395 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of Pinterest worth $7,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PINS. Revolve Wealth Partners LLC purchased a new stake in Pinterest in the 4th quarter worth $252,000. Integrated Wealth Concepts LLC lifted its position in shares of Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock valued at $339,000 after acquiring an additional 607 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Pinterest by 45.6% in the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock valued at $470,000 after acquiring an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Pinterest by 39.5% in the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock worth $335,000 after acquiring an additional 2,649 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Pinterest in the second quarter worth about $696,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of Pinterest stock in a transaction dated 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 in the company, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 370,720 shares of company stock valued at $7,892,627. 8.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Piper Sandler restated a “neutral” rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $28.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. Finally, Rothschild & Co Redburn set a $23.00 target price on shares of Pinterest and gave the stock a “neutral” rating in a report on Monday, April 27th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Pinterest has an average rating of “Hold” and an average target price of $27.69.

Pinterest Price Performance

Pinterest stock opened at $24.48 on Friday. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 51.00, a PEG ratio of 1.39 and a beta of 0.89. The firm’s fifty day moving average is $21.61 and its 200 day moving average is $20.55. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. During the same period last year, the company posted $0.23 EPS. The business’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts forecast that Pinterest, Inc. will post 0.65 EPS 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.