Pinterest, Inc. (NYSE:PINS) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,786 shares of the company’s stock after acquiring an additional 6,564 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Pinterest were worth $1,930,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PINS. Vanguard Group Inc. grew its position in Pinterest by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after purchasing an additional 994,848 shares during the period. Baillie Gifford & Co. grew its holdings in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after acquiring an additional 880,398 shares during the period. Franklin Resources Inc. raised its position in Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Capital World Investors lifted its holdings in Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Pinterest by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after purchasing an additional 176,540 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Robert W. Baird lowered their target price 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. Susquehanna cut their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a research report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Pinterest Trading Up 1.6 %

Shares of PINS stock opened at $29.36 on Wednesday. The company’s 50-day moving average price is $33.29 and its 200-day moving average price is $36.86. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The stock has a market cap of $20.06 billion, a price-to-earnings ratio of 139.81, a PEG ratio of 3.27 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 for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, equities research analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

Pinterest Profile

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.