OP Asset Management Ltd Purchases Shares of 60,868 Pinterest, Inc. $PINS

OP Asset Management Ltd purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,868 shares of the company’s stock, valued at approximately $1,116,000.

Several other institutional investors and hedge funds also recently modified their holdings of PINS. Yousif Capital Management LLC raised its stake in shares of Pinterest by 2,298.3% during the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after purchasing an additional 177,449 shares in the last quarter. Korea Investment CORP grew its stake in shares of Pinterest by 82.7% in the third quarter. Korea Investment CORP now owns 703,483 shares of the company’s stock valued at $22,631,000 after buying an additional 318,351 shares in the last quarter. Forsta AP Fonden grew its stake in shares of Pinterest by 61.2% in the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock valued at $10,289,000 after buying an additional 150,900 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Pinterest during the fourth quarter worth $12,812,000. Finally, KLP Kapitalforvaltning AS raised its position in Pinterest by 103.4% during the fourth quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock worth $21,709,000 after acquiring an additional 426,300 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the transaction, the director owned 27,450 shares in the company, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the sale, the insider directly owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 232,195 shares of company stock worth $4,811,815 over the last quarter. Company insiders own 8.09% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $21.83 on Tuesday. The firm has a 50-day moving average of $20.40 and a 200-day moving average of $21.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market cap of $12.23 billion, a PE ratio of 45.48, a P/E/G ratio of 1.19 and a beta of 0.92. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. Pinterest’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Pinterest from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Robert W. Baird raised their target price on shares of Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $28.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price target on Pinterest and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Barclays upped their price objective on Pinterest from $25.00 to $27.00 and gave the company an “equal weight” 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.40.

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.