Plato Investment Management Ltd Purchases Shares of 61,064 Pinterest, Inc. $PINS

Plato Investment Management Ltd acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 61,064 shares of the company’s stock, valued at approximately $1,277,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden increased its stake in Pinterest by 61.2% in the 4th 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 during the last quarter. Amundi raised its holdings in Pinterest by 38.3% during the first quarter. Amundi now owns 3,200,829 shares of the company’s stock worth $58,703,000 after acquiring an additional 885,927 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Pinterest during the fourth quarter valued at approximately $12,812,000. KLP Kapitalforvaltning AS grew its stake in Pinterest by 103.4% in the fourth quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock valued at $21,709,000 after purchasing an additional 426,300 shares in the last quarter. Finally, Freemont Management S.A. acquired a new position in shares of Pinterest during the 4th quarter worth approximately $2,540,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PINS has been the subject of several recent analyst reports. UBS Group increased their price objective on Pinterest from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Citigroup upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. The Goldman Sachs Group restated a “buy” rating and set a $28.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Evercore upped their target price on shares of Pinterest from $27.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and a consensus target price of $27.90.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 59,096 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the transaction, the chief financial officer owned 817,409 shares in the company, valued at approximately $19,192,763.32. This trade represents a 6.74% 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 27,337 shares of Pinterest stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. The trade was a 3.64% 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. Over the last quarter, insiders have sold 488,931 shares of company stock valued at $10,691,868. 8.09% of the stock is owned by insiders.

Pinterest Stock Performance

NYSE PINS opened at $23.08 on Tuesday. The firm has a 50-day moving average of $22.39 and a 200-day moving average of $20.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. The stock has a market cap of $12.93 billion, a PE ratio of 67.88, a P/E/G ratio of 1.29 and a beta of 0.90. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $38.57.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. Pinterest’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.62 EPS for the current year.

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.