Vanguard Personalized Indexing Management LLC Raises Stake in Pinterest, Inc. (NYSE:PINS)

Vanguard Personalized Indexing Management LLC boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 7.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,990 shares of the company’s stock after purchasing an additional 3,904 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Pinterest were worth $2,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. purchased a new position in Pinterest during the fourth quarter valued at $54,000. Janney Montgomery Scott LLC grew its holdings in shares of Pinterest by 67.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,441 shares of the company’s stock valued at $2,054,000 after buying an additional 22,397 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after buying an additional 378 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Pinterest by 17.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,451 shares of the company’s stock valued at $572,000 after purchasing an additional 2,285 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after purchasing an additional 34,876 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Down 0.5 %

Shares of NYSE:PINS opened at $30.36 on Friday. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The firm has a fifty day simple moving average of $32.58 and a two-hundred day simple moving average of $36.73. The stock has a market capitalization of $20.83 billion, a P/E ratio of 144.58, a PEG ratio of 3.22 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. On average, analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PINS shares. Citigroup reduced their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Wolfe Research began coverage on Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $42.78.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.