Generate Investment Management Ltd Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Generate Investment Management Ltd boosted its position in Pinterest, Inc. (NYSE:PINS) by 89.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,394 shares of the company’s stock after buying an additional 361,378 shares during the period. Pinterest makes up about 1.7% of Generate Investment Management Ltd’s holdings, making the stock its 15th biggest position. Generate Investment Management Ltd owned approximately 0.11% of Pinterest worth $23,789,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Garde Capital Inc. acquired a new stake in shares of Pinterest in the 1st quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the 4th quarter worth $28,000. NBC Securities Inc. lifted its stake in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after acquiring an additional 999 shares during the period. American National Bank & Trust acquired a new stake in shares of Pinterest in the 1st quarter worth $32,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock worth $38,000 after acquiring an additional 1,058 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of NYSE PINS opened at $35.76 on Wednesday. The company has a market cap of $24.25 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The company has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $31.67.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. On average, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,759 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the sale, the chief accounting officer now directly owns 171,373 shares of the company’s stock, valued at approximately $5,459,943.78. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $34.82, for a total transaction of $3,554,530.06. Following the completion of the sale, the director now directly owns 8,414 shares in the company, valued at $292,975.48. This represents a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,045,416 shares of company stock worth $34,519,739 over the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PINS has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Pinterest from a “neutral” rating to an “overweight” rating and increased their price target for the company from $35.00 to $40.00 in a report on Tuesday, June 3rd. Benchmark cut their price target on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Morgan Stanley increased their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Finally, Stifel Nicolaus cut their price target on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $40.52.

Pinterest 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.