Horizon Investment Services LLC Buys Shares of 16,809 Pinterest, Inc. $PINS

Horizon Investment Services LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,809 shares of the company’s stock, valued at approximately $603,000.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after purchasing an additional 49,204 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Pinterest by 101.2% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after buying an additional 54,365 shares during the period. Truist Financial Corp boosted its stake in shares of Pinterest by 15.6% in the 2nd quarter. Truist Financial Corp now owns 98,363 shares of the company’s stock worth $3,527,000 after buying an additional 13,267 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Pinterest by 11.0% in the second quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock worth $239,872,000 after acquiring an additional 661,757 shares during the period. Finally, Machina Capital S.A.S. bought a new position in Pinterest in the second quarter valued at about $848,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS opened at $26.33 on Friday. The company has a market capitalization of $17.90 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.32 and a beta of 0.96. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The firm’s 50 day simple moving average is $33.78 and its two-hundred day simple moving average is $33.77.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $665.93 million for the quarter. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the sale, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the transaction, the director owned 30,600 shares of the company’s stock, valued at $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 640,236 shares of company stock valued at $22,878,326 over the last three months. Insiders own 7.06% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $33.00 price target (down from $35.00) on shares of Pinterest in a research note on Wednesday. Cowen restated a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. KeyCorp upped their target price on shares of Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Monness Crespi & Hardt downgraded shares of Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.23.

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.