30,484 Shares in Pinterest, Inc. $PINS Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new stake in Pinterest, Inc. (NYSE:PINS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,484 shares of the company’s stock, valued at approximately $559,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Pinterest during the fourth quarter worth about $357,945,000. State Street Corp raised its stake in shares of Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after acquiring an additional 7,412,213 shares during the period. Victory Capital Management Inc. raised its stake in shares of Pinterest by 30.5% in the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after acquiring an additional 6,258,628 shares during the period. Renaissance Technologies LLC raised its stake in shares of Pinterest by 271.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock valued at $109,831,000 after acquiring an additional 4,375,000 shares during the period. Finally, Davis Selected Advisers lifted its holdings in shares of Pinterest by 49.5% in the 4th quarter. Davis Selected Advisers now owns 11,801,983 shares of the company’s stock worth $305,554,000 after acquiring an additional 3,909,926 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Down 1.3%

Shares of PINS opened at $24.11 on Friday. The company’s 50-day simple moving average is $21.70 and its 200-day simple moving average is $20.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The stock has a market capitalization of $13.50 billion, a PE ratio of 50.23, a P/E/G ratio of 1.39 and a beta of 0.89.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the sale, the insider owned 724,673 shares in the company, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 370,720 shares of company stock valued at $7,892,627 in the last three months. 8.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PINS. Benchmark lowered their price objective on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. TD Cowen reissued a “buy” rating on shares of Pinterest in a research report on Monday, June 22nd. Wedbush started coverage on Pinterest in a research note on Thursday, July 16th. They set a “neutral” rating and a $24.00 price target on the stock. Rosenblatt Securities raised their price target on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.69.

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.