Northwestern Mutual Wealth Management Co. Grows Stake in Pinterest, Inc. (NYSE:PINS)

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,109 shares of the company’s stock after acquiring an additional 1,181 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Pinterest were worth $666,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PINS. Prudential PLC grew its stake in shares of Pinterest by 34.5% during the fourth quarter. Prudential PLC now owns 23,675 shares of the company’s stock valued at $877,000 after acquiring an additional 6,070 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in shares of Pinterest by 1.9% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 50,802 shares of the company’s stock valued at $1,882,000 after acquiring an additional 951 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Pinterest by 15.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,104,573 shares of the company’s stock valued at $40,913,000 after acquiring an additional 145,176 shares in the last quarter. Alta Park Capital LP acquired a new stake in shares of Pinterest during the fourth quarter valued at about $27,517,000. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Pinterest by 19.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,529,745 shares of the company’s stock valued at $56,662,000 after acquiring an additional 251,126 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.59 on Tuesday. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 155.20, a PEG ratio of 2.56 and a beta of 1.01. The stock’s 50 day moving average price is $30.95 and its 200 day moving average price is $36.58.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 EPS 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 firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, sell-side analysts expect that Pinterest, Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. Raymond James decreased their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. Finally, Evercore ISI decreased their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.11% of the stock is owned by corporate insiders.

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.