Swiss National Bank Decreases Stake in Pinterest, Inc. $PINS

Swiss National Bank reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,712,700 shares of the company’s stock after selling 84,700 shares during the quarter. Swiss National Bank’s holdings in Pinterest were worth $55,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC increased its holdings in Pinterest by 505.7% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after buying an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after acquiring an additional 883 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Pinterest during the 2nd quarter valued at about $45,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Pinterest by 46.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after acquiring an additional 419 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after acquiring an additional 1,325 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Up 0.0%

Shares of NYSE:PINS opened at $19.37 on Thursday. The stock has a market capitalization of $12.88 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.93. The firm’s 50 day moving average price is $21.66 and its 200-day moving average price is $27.56. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $155,160.00. Following the transaction, the insider directly owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the transaction, the chief financial officer owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,457 shares of company stock worth $876,925 in the last quarter. Corporate insiders own 7.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Pinterest in a report on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating and issued a $23.00 target price on shares of Pinterest in a report on Friday, February 13th. KeyCorp cut their target price on shares of Pinterest from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Royal Bank Of Canada lowered shares of Pinterest from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $38.00 to $17.00 in a research note on Friday, February 13th. Finally, Stifel Nicolaus lowered their price target on Pinterest from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.87.

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.