Generate Investment Management Ltd Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Generate Investment Management Ltd decreased its position in Pinterest, Inc. (NYSE:PINS) by 17.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 205,881 shares of the company’s stock after selling 43,749 shares during the period. Generate Investment Management Ltd’s holdings in Pinterest were worth $6,664,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after buying an additional 994,848 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Pinterest by 9.5% in the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after buying an additional 880,398 shares during the last quarter. Clearbridge Investments LLC boosted its stake 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 buying an additional 176,540 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock valued at $262,695,000 after buying an additional 380,431 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Pinterest by 45.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after acquiring an additional 1,798,494 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Oppenheimer assumed coverage on Pinterest in a report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 price objective for the company. Benchmark reiterated a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. UBS Group dropped their price target on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup cut their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest Stock Up 0.7 %

PINS stock opened at $33.17 on Friday. The stock’s 50 day moving average is $31.50 and its two-hundred day moving average is $36.48. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The company has a market capitalization of $22.76 billion, a PE ratio of 122.86, a P/E/G ratio of 2.62 and a beta of 1.01.

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

Insiders Place Their Bets

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

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.