Lazard Freres Gestion S.A.S. Invests $2.15 Million in Pinterest, Inc. $PINS

Lazard Freres Gestion S.A.S. acquired a new position in Pinterest, Inc. (NYSE:PINS) in the second quarter, HoldingsChannel reports. The firm acquired 60,000 shares of the company’s stock, valued at approximately $2,151,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest during the 1st quarter valued at $25,000. West Branch Capital LLC bought a new stake in Pinterest during the 2nd quarter valued at $36,000. Golden State Wealth Management LLC raised its holdings in Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $38,000 after buying an additional 1,058 shares during the last quarter. Mather Group LLC. raised its holdings in Pinterest by 133.5% during the 1st quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after buying an additional 749 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in Pinterest by 97.7% during the 1st quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock valued at $43,000 after buying an additional 679 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein upped their price target on shares of Pinterest from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Piper Sandler set a $40.00 price objective on shares of Pinterest in a research report on Friday, August 8th. Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Oppenheimer reissued an “outperform” rating on shares of Pinterest in a research report on Friday, August 8th. Finally, Benchmark boosted their price objective on shares of Pinterest from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,759 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the sale, the chief accounting officer directly owned 157,402 shares of the company’s stock, valued at $5,502,773.92. This represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale can be found here. Insiders sold 640,236 shares of company stock valued at $22,878,326 over the last 90 days. 7.06% of the stock is owned by corporate insiders.

Pinterest Price Performance

NYSE:PINS opened at $33.45 on Friday. The firm’s 50-day moving average price is $34.54 and its 200-day moving average price is $33.30. The company has a market capitalization of $22.74 billion, a PE ratio of 11.99, a P/E/G ratio of 1.38 and a beta of 0.81. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

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