Edgestream Partners L.P. Purchases 99,395 Shares of Pinterest, Inc. $PINS

Edgestream Partners L.P. grew its position in Pinterest, Inc. (NYSE:PINS) by 32.7% during the 1st quarter, HoldingsChannel reports. The fund owned 403,553 shares of the company’s stock after purchasing an additional 99,395 shares during the period. Edgestream Partners L.P.’s holdings in Pinterest were worth $7,401,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PINS. Yousif Capital Management LLC raised its stake in Pinterest by 2,298.3% during the fourth quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after acquiring an additional 177,449 shares in the last quarter. Forsta AP Fonden boosted its stake in shares of Pinterest by 61.2% in the 4th quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock valued at $10,289,000 after purchasing an additional 150,900 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Pinterest during the 4th quarter valued at approximately $12,812,000. KLP Kapitalforvaltning AS grew its holdings in shares of Pinterest by 103.4% during the 4th quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock valued at $21,709,000 after purchasing an additional 426,300 shares during the last quarter. Finally, Freemont Management S.A. bought a new stake in shares of Pinterest during the 4th quarter valued at approximately $2,540,000. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $28.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Citigroup upped their price target on shares of Pinterest from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. TD Cowen reiterated a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Piper Sandler reissued a “neutral” rating and set a $26.00 price objective (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Finally, UBS Group upped their target price on Pinterest from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.69.

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total transaction of $1,056,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the sale, the insider owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. The trade was a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 370,720 shares of company stock worth $7,892,627 in the last ninety days. Insiders own 8.09% of the company’s stock.

Pinterest Stock Up 0.2%

Shares of NYSE PINS opened at $24.48 on Friday. The company has a market capitalization of $13.71 billion, a P/E ratio of 51.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The company’s 50 day moving average price is $21.61 and its 200-day moving average price is $20.55.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. During the same period in the prior year, the company posted $0.23 earnings per share. Pinterest’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current year.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.