1,948,954 Shares in Pinterest, Inc. $PINS Purchased by DSM Capital Partners LLC

DSM Capital Partners LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,948,954 shares of the company’s stock, valued at approximately $62,698,000. Pinterest makes up about 0.9% of DSM Capital Partners LLC’s holdings, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in PINS. Renaissance Group LLC lifted its position in shares of Pinterest by 4.5% during the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after purchasing an additional 43,541 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Pinterest by 243.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after buying an additional 49,204 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Pinterest by 15.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after acquiring an additional 110,089 shares during the period. Norges Bank acquired a new stake in shares of Pinterest in the second quarter worth $477,853,000. Finally, KLP Kapitalforvaltning AS increased its position in Pinterest by 8.0% during the second quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after acquiring an additional 30,500 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 301,214 shares in the company, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 105,161 shares of company stock valued at $2,796,466. 7.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PINS. Cantor Fitzgerald decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company decreased their target price on Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Citigroup restated a “buy” rating on shares of Pinterest in a research note on Wednesday, November 5th. Guggenheim reduced their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $38.72.

Pinterest Trading Up 2.1%

PINS stock opened at $27.06 on Wednesday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The business’s 50 day moving average is $26.95 and its 200-day moving average is $32.44. The firm has a market cap of $18.28 billion, a P/E ratio of 9.40, a P/E/G ratio of 1.21 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business had revenue of $665.93 million for the quarter. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 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.