Baillie Gifford & Co. Decreases Holdings in Pinterest, Inc. $PINS

Baillie Gifford & Co. trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 7,800,244 shares of the company’s stock after selling 209,496 shares during the period. Baillie Gifford & Co.’s holdings in Pinterest were worth $250,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC raised its holdings in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after purchasing an additional 506 shares during the period. N.E.W. Advisory Services LLC grew its holdings in Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after purchasing an additional 713 shares during the period. West Branch Capital LLC purchased a new stake in Pinterest in the second quarter worth $36,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the second quarter valued at $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Pinterest during the 2nd quarter valued at $45,000. 88.81% of the stock is owned by institutional investors.

Insider Transactions at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the transaction, the insider directly owned 699,773 shares in the company, valued at $18,096,129.78. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares in the company, valued at $8,099,644.46. This represents a 19.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 105,161 shares of company stock valued at $2,796,466. 7.06% of the stock is currently owned by company insiders.

Pinterest Trading Up 1.0%

PINS stock opened at $25.92 on Friday. The firm has a 50 day moving average of $26.24 and a 200-day moving average of $31.66. The firm has a market capitalization of $17.51 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company posted $0.40 EPS. The business’s revenue was up 16.8% on a year-over-year basis. Sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

PINS has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Wedbush downgraded shares of Pinterest from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $34.00 to $30.00 in a research note on Monday, December 8th. Piper Sandler reissued a “neutral” rating and issued a $33.00 price target (down previously from $35.00) on shares of Pinterest in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a research note on Monday, December 29th. Finally, Evercore ISI cut their price objective on shares of Pinterest from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.64.

About Pinterest

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.