Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Mirae Asset Global Investments Co. Ltd. boosted its position in Pinterest, Inc. (NYSE:PINS) by 174.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,440 shares of the company’s stock after buying an additional 53,713 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Pinterest were worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Leibman Financial Services Inc. boosted its stake in Pinterest by 0.9% in the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after buying an additional 313 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after buying an additional 319 shares in the last quarter. Toronto Dominion Bank boosted its stake in Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its stake in Pinterest by 1.6% in the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 0.5 %

PINS opened at $32.42 on Wednesday. The stock has a fifty day simple moving average of $31.73 and a two-hundred day simple moving average of $36.40. The company has a market cap of $22.15 billion, a price-to-earnings ratio of 154.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Pinterest, Inc. has a 12-month low of $24.47 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted ($0.04) earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PINS. JPMorgan Chase & Co. cut their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Susquehanna lowered their price objective on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a research report on Friday, September 13th. Finally, Morgan Stanley boosted their price objective on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.32.

Pinterest Company Profile

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.