PGGM Investments Takes Position in Pinterest, Inc. (NYSE:PINS)

PGGM Investments acquired a new stake in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,390 shares of the company’s stock, valued at approximately $590,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Pinterest in the fourth quarter valued at about $241,229,000. Wellington Management Group LLP grew its stake in shares of Pinterest by 1,188.9% in the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pinterest by 128.2% in the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after acquiring an additional 3,134,776 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Finally, Contour Asset Management LLC grew its stake in shares of Pinterest by 79.5% in the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after acquiring an additional 2,023,500 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Transactions at Pinterest

In other news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. Insiders sold a total of 48,316 shares of company stock valued at $2,109,592 in the last quarter. 7.11% of the stock is currently owned by company insiders.

Pinterest Stock Down 1.6 %

Pinterest stock traded down $0.47 during mid-day trading on Wednesday, hitting $29.28. 9,497,589 shares of the stock were exchanged, compared to its average volume of 9,931,126. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The firm’s fifty day simple moving average is $39.74 and its two-hundred day simple moving average is $38.01. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 139.44, a PEG ratio of 3.22 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same quarter last year, the business earned ($0.04) EPS. The company’s revenue was up 20.6% compared to the same quarter last year. As a group, analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the topic of several research reports. KeyCorp decreased their price target on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Barclays reduced their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Raymond James reduced their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Citigroup reduced their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.71.

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.