Stonegate Investment Group LLC Has $2.09 Million Position in Pinterest, Inc. (NYSE:PINS)

Stonegate Investment Group LLC grew its position in Pinterest, Inc. (NYSE:PINS) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,637 shares of the company’s stock after purchasing an additional 1,996 shares during the period. Stonegate Investment Group LLC’s holdings in Pinterest were worth $2,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new position in Pinterest during the 2nd quarter worth approximately $98,655,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares during the period. Ninety One UK Ltd increased its position in Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after buying an additional 1,679,348 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Pinterest by 66.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock valued at $145,594,000 after buying an additional 1,678,756 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after buying an additional 1,356,459 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Performance

Shares of NYSE:PINS traded up $0.35 during trading on Friday, reaching $33.29. The stock had a trading volume of 332,840 shares, compared to its average volume of 9,366,618. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The firm’s fifty day moving average is $31.42 and its 200 day moving average is $36.50. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 156.81, a P/E/G ratio of 2.61 and a beta of 1.01.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $848.75 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, research analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PINS has been the subject of a number of research reports. Wolfe Research assumed coverage on shares of Pinterest in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Oppenheimer began coverage on Pinterest in a research note on Tuesday, September 24th. They set an “outperform” rating and a $45.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, September 13th. The Goldman Sachs Group raised their target price on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.32.

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.