Pinterest, Inc. $PINS Shares Sold by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 15.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 430,950 shares of the company’s stock after selling 81,246 shares during the quarter. Pinterest accounts for about 0.8% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 23rd biggest position. Bronte Capital Management Pty Ltd.’s holdings in Pinterest were worth $7,904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after buying an additional 1,049 shares in the last quarter. Addison Advisors LLC grew its holdings in Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares during the period. Garner Asset Management Corp acquired a new position in Pinterest during the fourth quarter worth $36,000. Finally, MidFirst Bank acquired a new position in Pinterest during the fourth quarter worth $44,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. The trade was a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $21.45, for a total transaction of $1,005,468.75. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 279,070 shares of company stock valued at $5,817,283 in the last 90 days. 8.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PINS. TD Cowen reissued a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. Rosenblatt Securities upped their price target on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Pinterest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Mizuho increased their price target on shares of Pinterest from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pinterest currently has an average rating of “Hold” and a consensus price target of $27.40.

Pinterest Stock Performance

NYSE PINS opened at $22.06 on Friday. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93. The company has a market capitalization of $12.35 billion, a P/E ratio of 45.95, a PEG ratio of 1.23 and a beta of 0.89. The business has a 50 day moving average price of $20.47 and a 200 day moving average price of $21.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.Pinterest’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. Sell-side analysts expect that Pinterest, Inc. will post 0.66 EPS for the current fiscal year.

About Pinterest

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.