Pinterest, Inc. $PINS Stake Reduced by Inflection Point Investments LLP

Inflection Point Investments LLP reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,353 shares of the company’s stock after selling 25,325 shares during the period. Pinterest comprises 9.1% of Inflection Point Investments LLP’s holdings, making the stock its 7th biggest position. Inflection Point Investments LLP’s holdings in Pinterest were worth $4,782,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Amundi boosted its holdings in Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after purchasing an additional 12,271,958 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the last quarter. Swedbank AB boosted its holdings in Pinterest by 344.0% in the first quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock valued at $181,024,000 after purchasing an additional 4,524,433 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Pinterest by 4,673.9% in the first quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company’s stock worth $78,484,000 after buying an additional 2,478,708 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in shares of Pinterest in the second quarter worth about $82,516,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on PINS shares. Wedbush upped their target price on Pinterest from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Cowen restated a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. TD Cowen upped their price objective on Pinterest from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, July 15th. Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $45.00 in a report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.67.

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $36.01, for a total value of $3,676,008.83. Following the transaction, the director directly owned 8,414 shares in the company, valued at $302,988.14. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 865,552 shares of company stock worth $31,242,397. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

Pinterest stock opened at $32.23 on Tuesday. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The company’s 50 day simple moving average is $35.12 and its 200-day simple moving average is $33.12.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The firm had revenue of $665.93 million for the quarter. Equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.