Jain Global LLC Buys 227,119 Shares of Pinterest, Inc. $PINS

Jain Global LLC raised its stake in Pinterest, Inc. (NYSE:PINS) by 3,703.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 233,251 shares of the company’s stock after buying an additional 227,119 shares during the quarter. Jain Global LLC’s holdings in Pinterest were worth $7,504,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in Pinterest during the second quarter worth $477,853,000. Balyasny Asset Management L.P. lifted its stake in Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after acquiring an additional 4,230,125 shares in the last quarter. Man Group plc lifted its stake in Pinterest by 185.7% during the 3rd quarter. Man Group plc now owns 4,983,427 shares of the company’s stock valued at $160,317,000 after acquiring an additional 3,239,222 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Pinterest by 18.5% during the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock worth $685,899,000 after acquiring an additional 3,213,241 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Pinterest by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock worth $1,961,933,000 after acquiring an additional 3,044,674 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $155,160.00. Following the sale, the insider owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the 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 directly owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,457 shares of company stock valued at $876,925 over the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $18.26 on Tuesday. The company has a market capitalization of $12.15 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. The company’s 50-day moving average is $21.17 and its 200 day moving average is $27.12. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. As a group, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

PINS has been the subject of several analyst reports. HSBC downgraded shares of Pinterest from a “buy” rating to a “hold” rating and set a $24.90 target price for the company. in a report on Friday, January 30th. Evercore set a $25.00 price objective on shares of Pinterest and gave the stock an “in-line” rating in a research report on Friday, February 13th. Benchmark decreased their price objective on shares of Pinterest from $39.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Wedbush dropped their target price on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Finally, Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Hold” and an average price target of $25.87.

Pinterest 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.