Plato Investment Management Ltd Makes New $1.28 Million Investment in Pinterest, Inc. $PINS

Plato Investment Management Ltd bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, Holdings Channel.com reports. The fund bought 61,064 shares of the company’s stock, valued at approximately $1,277,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Everhart Financial Group Inc. grew its position in Pinterest by 62.1% during the second quarter. Everhart Financial Group Inc. now owns 18,128 shares of the company’s stock worth $381,000 after buying an additional 6,943 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Pinterest by 20.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 58,582 shares of the company’s stock valued at $1,232,000 after acquiring an additional 10,096 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Pinterest by 184.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,098,432 shares of the company’s stock valued at $23,100,000 after acquiring an additional 712,569 shares during the period. GAMMA Investing LLC lifted its position in shares of Pinterest by 13.6% during the 2nd quarter. GAMMA Investing LLC now owns 10,929 shares of the company’s stock valued at $230,000 after acquiring an additional 1,308 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Pinterest by 1.9% during the 2nd quarter. Central Pacific Bank Trust Division now owns 116,971 shares of the company’s stock worth $2,460,000 after purchasing an additional 2,219 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Trading Down 4.1%

Shares of Pinterest stock opened at $23.08 on Tuesday. The firm’s 50 day moving average is $22.39 and its 200 day moving average is $20.37. The firm has a market capitalization of $12.93 billion, a PE ratio of 67.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $38.57. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. Equities research analysts forecast that Pinterest, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 59,096 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the sale, the chief financial officer directly owned 817,409 shares of the company’s stock, valued at $19,192,763.32. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 488,931 shares of company stock valued at $10,691,868 over the last quarter. 8.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PINS shares. Weiss Ratings upgraded shares of Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Rosenblatt Securities upped their price target on shares of Pinterest from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Evercore increased their price target on shares of Pinterest from $27.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 5th. Robert W. Baird lifted their price objective on shares of Pinterest from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley boosted their price objective on shares of Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.90.

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.