Plato Investment Management Ltd Raises Holdings in Pinterest, Inc. (NYSE:PINS)

Plato Investment Management Ltd increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 72.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,921 shares of the company’s stock after buying an additional 6,266 shares during the period. Plato Investment Management Ltd’s holdings in Pinterest were worth $658,000 at the end of the most recent quarter.

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

Pinterest Stock Performance

NYSE PINS opened at $28.86 on Monday. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The firm has a market capitalization of $19.80 billion, a P/E ratio of 137.44, a PEG ratio of 3.26 and a beta of 1.00. The stock has a 50-day simple moving average of $33.86 and a two-hundred day simple moving average of $36.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating 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 analysts’ expectations of $848.75 million. During the same period last year, the business earned ($0.04) earnings per share. Pinterest’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PINS shares. Wedbush decreased their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research report on Friday. KeyCorp cut their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Susquehanna decreased their target price on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their target price on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the transaction, the chief accounting officer now owns 186,906 shares in the company, valued at approximately $8,410,770. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

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.