Candriam S.C.A. Purchases 13,261 Shares of Pinterest, Inc. $PINS

Candriam S.C.A. grew its position in Pinterest, Inc. (NYSE:PINS) by 36.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,166 shares of the company’s stock after buying an additional 13,261 shares during the quarter. Candriam S.C.A.’s holdings in Pinterest were worth $1,763,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Calamos Advisors LLC lifted its stake in Pinterest by 7.5% in the second quarter. Calamos Advisors LLC now owns 172,500 shares of the company’s stock worth $6,186,000 after acquiring an additional 12,000 shares during the period. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Pinterest by 2.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 89,006 shares of the company’s stock valued at $3,192,000 after purchasing an additional 1,704 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Pinterest by 1.3% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,212,175 shares of the company’s stock worth $79,329,000 after purchasing an additional 27,435 shares during the period. KBC Group NV lifted its position in shares of Pinterest by 3.8% in the 2nd quarter. KBC Group NV now owns 92,961 shares of the company’s stock worth $3,334,000 after purchasing an additional 3,404 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Pinterest by 5.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 486,554 shares of the company’s stock valued at $17,448,000 after purchasing an additional 24,683 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $26.62 on Monday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 1.57 and a beta of 0.96. The stock’s 50-day simple moving average is $32.57 and its 200-day simple moving average is $33.95.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The company had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PINS. Wells Fargo & Company lowered their target price on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Evercore ISI reduced their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. BMO Capital Markets cut their target price on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Citigroup reiterated a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.55.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. The trade was a 19.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the transaction, the director directly owned 30,600 shares in the company, valued at approximately $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 714,283 shares of company stock valued at $24,869,450. Company insiders own 7.11% of the company’s stock.

About Pinterest

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.