Pinterest, Inc. $PINS Stock Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its stake in Pinterest, Inc. (NYSE:PINS) by 1,230.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,740 shares of the company’s stock after buying an additional 72,821 shares during the period. Fulcrum Asset Management LLP’s holdings in Pinterest were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Amundi boosted its holdings in Pinterest by 38.3% in the first quarter. Amundi now owns 3,200,829 shares of the company’s stock valued at $58,703,000 after acquiring an additional 885,927 shares during the last quarter. Insight Wealth Strategies LLC bought a new position in Pinterest during the 3rd quarter worth approximately $4,901,000. Lazard Asset Management LLC raised its holdings in Pinterest by 53.4% during the 1st quarter. Lazard Asset Management LLC now owns 1,421,187 shares of the company’s stock worth $26,065,000 after purchasing an additional 494,571 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Pinterest by 12.2% in the 1st quarter. First Trust Advisors LP now owns 1,970,857 shares of the company’s stock worth $36,145,000 after purchasing an additional 213,677 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in shares of Pinterest by 89.7% in the 2nd quarter. Engineers Gate Manager LP now owns 183,035 shares of the company’s stock valued at $3,849,000 after purchasing an additional 86,560 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Activity at Pinterest

In related news, CFO Julia Donnelly sold 29,548 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $18.61, for a total transaction of $549,888.28. Following the transaction, the chief financial officer owned 751,921 shares in the company, valued at $13,993,249.81. The trade was a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Claude Leonard Brown sold 12,240 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $20.00, for a total transaction of $244,800.00. Following the transaction, the insider directly owned 1,130,768 shares in the company, valued at approximately $22,615,360. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 621,541 shares of company stock worth $12,868,011. 8.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Pinterest from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Barclays dropped their target price on shares of Pinterest from $31.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, October 30th. Zacks Research cut shares of Pinterest from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Bank of America reaffirmed a “neutral” rating and set a $23.00 price target on shares of Pinterest in a research report on Friday, October 30th. Finally, The Goldman Sachs Group decreased their price target on Pinterest from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.97.

Pinterest Trading Up 1.3%

Shares of PINS stock opened at $19.19 on Thursday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.28 and a current ratio of 4.28. The stock has a 50 day simple moving average of $20.14 and a two-hundred day simple moving average of $20.53. The company has a market cap of $11.01 billion, a P/E ratio of 59.22, a PEG ratio of 1.52 and a beta of 0.98.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.21 billion. Pinterest had a return on equity of 6.58% and a net margin of 3.81%. Pinterest’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. Research analysts forecast that Pinterest, Inc. will post 0.51 earnings per share for the current year.

Pinterest Profile

Pinterest, Inc. operates a visual discovery platform that helps people find ideas and plan projects across interests such as home décor, food, fashion, travel and personal style. Users can save images and videos, known as Pins, to collections called boards and explore related recommendations through the company’s website and mobile apps. The company generates revenue primarily through advertising. Its advertising products allow businesses to promote content to users, while shopping features and tools help merchants showcase products and connect with people as they explore ideas and make plans.