Erste Asset Management GmbH Buys 2,502,600 Shares of Pinterest, Inc. $PINS

Erste Asset Management GmbH boosted its stake in Pinterest, Inc. (NYSE:PINS) by 33,818.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,510,000 shares of the company’s stock after buying an additional 2,502,600 shares during the period. Pinterest accounts for approximately 0.8% of Erste Asset Management GmbH’s portfolio, making the stock its 22nd largest position. Erste Asset Management GmbH owned 0.37% of Pinterest worth $83,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Andra AP fonden boosted its position in shares of Pinterest by 77.5% during the third quarter. Andra AP fonden now owns 1,775,956 shares of the company’s stock valued at $57,133,000 after purchasing an additional 775,600 shares in the last quarter. Forge First Asset Management Inc. bought a new position in Pinterest in the third quarter worth $1,556,000. Xponance Inc. lifted its position in Pinterest by 6.4% during the third quarter. Xponance Inc. now owns 98,806 shares of the company’s stock valued at $3,179,000 after buying an additional 5,941 shares during the period. DNB Asset Management AS boosted its holdings in shares of Pinterest by 7.3% during the 3rd quarter. DNB Asset Management AS now owns 114,129 shares of the company’s stock valued at $3,672,000 after buying an additional 7,728 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Pinterest by 1.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,023,270 shares of the company’s stock worth $65,089,000 after buying an additional 37,177 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PINS shares. Barclays lowered their price target on shares of Pinterest from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft lowered shares of Pinterest from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Friday, February 13th. Morgan Stanley upped their price target on Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Wolfe Research set a $33.00 price objective on Pinterest and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, Benchmark dropped their target price on Pinterest from $39.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eighteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.87.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on 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 owned 540,358 shares of the company’s stock, valued at $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Malik Ducard sold 2,293 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $22.06, for a total value of $50,583.58. Following the sale, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This represents a 0.33% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 33,407 shares of company stock valued at $855,925. Company insiders own 7.06% of the company’s stock.

Pinterest Trading Up 1.4%

Shares of PINS opened at $17.81 on Friday. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 1.24 and a beta of 0.92. The business’s fifty day simple moving average is $22.92 and its two-hundred day simple moving average is $28.64. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $0.56 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research 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.