Pinterest, Inc. $PINS Holdings Raised by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Pinterest, Inc. (NYSE:PINS) by 271.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,988,631 shares of the company’s stock after purchasing an additional 4,375,000 shares during the quarter. Renaissance Technologies LLC owned 1.07% of Pinterest worth $109,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Pinterest during the fourth quarter valued at about $357,945,000. State Street Corp increased its position in shares of Pinterest by 52.6% in the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after acquiring an additional 7,412,213 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after acquiring an additional 6,258,628 shares in the last quarter. Davis Selected Advisers increased its position in shares of Pinterest by 49.5% in the fourth quarter. Davis Selected Advisers now owns 11,801,983 shares of the company’s stock worth $305,554,000 after acquiring an additional 3,909,926 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Pinterest by 15.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after acquiring an additional 3,669,476 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

NYSE PINS opened at $22.18 on Friday. The company has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $20.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.89. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Equities research analysts predict that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 14,208 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the transaction, the insider directly owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. This represents a 2.01% decrease in their ownership of the stock. The transaction 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, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,845 shares of company stock valued at $6,836,065 in the last three months. Company insiders own 8.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. DA Davidson began coverage on shares of Pinterest in a research report on Wednesday, July 8th. They issued a “buy” rating and a $26.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $30.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 target price on shares of Pinterest and gave the company a “neutral” rating in a research note on Monday, April 27th. Royal Bank Of Canada increased their target price on Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Finally, Robert W. Baird raised their target price on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pinterest presently has an average rating of “Hold” and a consensus price target of $27.69.

Pinterest Company 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.