Amova Asset Management Americas Inc. Has $64.07 Million Stake in Pinterest, Inc. $PINS

Amova Asset Management Americas Inc. decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 35.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,475,455 shares of the company’s stock after selling 1,331,229 shares during the period. Amova Asset Management Americas Inc.’s holdings in Pinterest were worth $64,065,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Pinterest by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock valued at $1,606,632,000 after buying an additional 1,069,646 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Pinterest by 18.5% during the third quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock valued at $685,899,000 after buying an additional 3,213,241 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Pinterest by 10.7% during the third quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock valued at $634,767,000 after buying an additional 1,913,668 shares during the last quarter. State Street Corp raised its position in shares of Pinterest by 1.6% during the third quarter. State Street Corp now owns 14,079,956 shares of the company’s stock valued at $452,952,000 after buying an additional 224,909 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Pinterest during the fourth quarter valued at about $357,945,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $21.91 on Wednesday. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $12.27 billion, a PE ratio of 45.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The firm has a 50-day moving average price of $19.80 and a 200 day moving average price of $21.69.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research analyst reports. Rosenblatt Securities upped their price objective on shares of Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Pinterest in a research report on Friday, February 13th. Citigroup upped their price objective on shares of Pinterest from $19.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Morgan Stanley upped their price objective on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 2nd. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.40.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $20.50, for a total transaction of $960,937.50. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the sale, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 77,362 shares of company stock valued at $1,583,253. 8.09% of the stock is currently owned by insiders.

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.