Engineers Gate Manager LP Buys 86,560 Shares of Pinterest, Inc. $PINS

Engineers Gate Manager LP lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 89.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 183,035 shares of the company’s stock after acquiring an additional 86,560 shares during the period. Engineers Gate Manager LP’s holdings in Pinterest were worth $3,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after purchasing an additional 3,669,476 shares during the period. Victory Capital Management Inc. increased its stake in Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after purchasing an additional 6,258,628 shares in the last quarter. State Street Corp raised its holdings in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after purchasing an additional 7,412,213 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after purchasing an additional 2,319,964 shares during the period. Finally, Norges Bank bought a new position in shares of Pinterest during the 4th quarter worth about $357,945,000. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PINS. Royal Bank Of Canada boosted their target price on Pinterest from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Wedbush reiterated a “neutral” rating and issued a $24.00 price target on shares of Pinterest in a report on Wednesday, August 5th. Wall Street Zen upgraded Pinterest from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Mizuho upped their target price on Pinterest from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.90.

Insider Transactions at Pinterest

In related news, CFO Julia Donnelly sold 59,096 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the transaction, the chief financial officer directly owned 817,409 shares in the company, valued at approximately $19,192,763.32. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 93,750 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $21.43, for a total transaction of $2,009,062.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 602,219 shares of company stock worth $13,303,546 over the last three months. 8.09% of the stock is owned by insiders.

Pinterest Trading Up 0.9%

NYSE PINS opened at $18.95 on Friday. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $22.68 and a 200 day simple moving average of $20.70. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $37.05. The firm has a market capitalization of $10.62 billion, a P/E ratio of 55.74, a PEG ratio of 1.25 and a beta of 0.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts predict that Pinterest, Inc. will post 0.58 EPS for the current fiscal year.

Pinterest Profile

Pinterest, Inc (NYSE:PINS) operates a visual discovery and planning platform that helps people find ideas and inspiration across categories such as home design, food, fashion, travel and hobbies. Users can discover, save and organize images, videos and other content into collections called boards, as well as share ideas with others.

The company also provides tools for merchants, creators and advertisers. Businesses can use Pinterest to showcase products, reach audiences through visual advertising and direct users to websites or online shopping experiences.