Mirae Asset Global Investments Co. Ltd. Buys 67,702 Shares of Pinterest, Inc. $PINS

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the third quarter, according to its most recent filing with the SEC. The fund purchased 67,702 shares of the company’s stock, valued at approximately $1,279,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PINS. Amundi increased its stake in Pinterest by 38.3% in the 1st quarter. Amundi now owns 3,200,829 shares of the company’s stock worth $58,703,000 after acquiring an additional 885,927 shares during the last quarter. Insight Wealth Strategies LLC bought a new position in shares of Pinterest during the 3rd quarter valued at approximately $4,901,000. Lazard Asset Management LLC boosted its position in shares of Pinterest by 53.4% during the 1st quarter. Lazard Asset Management LLC now owns 1,421,187 shares of the company’s stock valued at $26,065,000 after acquiring an additional 494,571 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Pinterest by 12.2% during the 1st quarter. First Trust Advisors LP now owns 1,970,857 shares of the company’s stock valued at $36,145,000 after acquiring an additional 213,677 shares during the last quarter. Finally, Engineers Gate Manager LP grew its holdings in shares of Pinterest by 89.7% in the second quarter. Engineers Gate Manager LP now owns 183,035 shares of the company’s stock valued at $3,849,000 after purchasing an additional 86,560 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $19.92, for a total transaction of $933,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Julia Donnelly sold 29,548 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $18.61, for a total transaction of $549,888.28. Following the transaction, the chief financial officer owned 751,921 shares in the company, valued at $13,993,249.81. This trade represents a 3.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 680,656 shares of company stock worth $14,279,677. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Trading Down 4.1%

Shares of PINS stock opened at $18.99 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.28 and a quick ratio of 4.28. The stock’s 50 day simple moving average is $20.32 and its two-hundred day simple moving average is $20.63. The company has a market cap of $10.64 billion, a PE ratio of 75.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.98.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinterest had a net margin of 3.81% and a return on equity of 6.58%. Pinterest’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Research analysts predict that Pinterest, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PINS. Cantor Fitzgerald reduced their price target on shares of Pinterest from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. UBS Group decreased their price target on shares of Pinterest from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and set a $22.00 price objective on shares of Pinterest in a research report on Friday, October 30th. Robert W. Baird lifted their price objective on shares of Pinterest from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Citigroup dropped their price objective on shares of Pinterest from $27.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.97.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps people find ideas and plan projects across interests such as home décor, food, fashion, travel and personal style. Users can save images and videos, known as Pins, to collections called boards and explore related recommendations through the company’s website and mobile apps.

The company generates revenue primarily through advertising. Its advertising products allow businesses to promote content to users, while shopping features and tools help merchants showcase products and connect with people as they explore ideas and make plans.

Founded in 2010 by Ben Silbermann, Evan Sharp and Paul Sciarra, Pinterest is headquartered in San Francisco and serves users in markets around the world.