Marshall Wace LLP Decreases Holdings in Pinterest, Inc. $PINS

Marshall Wace LLP lowered its position in Pinterest, Inc. (NYSE:PINS) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,416,517 shares of the company’s stock after selling 770,894 shares during the quarter. Marshall Wace LLP owned approximately 1.09% of Pinterest worth $265,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PINS. Renaissance Group LLC grew its holdings in shares of Pinterest by 4.5% in the second 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. grew its holdings in Pinterest by 243.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after acquiring an additional 49,204 shares during the last quarter. KLP Kapitalforvaltning AS grew its holdings in Pinterest by 8.0% in the 2nd 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 last quarter. Norges Bank purchased a new position in shares of Pinterest in the second quarter valued at about $477,853,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after acquiring an additional 54,365 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on PINS shares. UBS Group cut their target price on Pinterest from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler reiterated a “neutral” rating and issued a $33.00 price objective (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Evercore ISI reduced their target price on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Roth Capital dropped their price target on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company cut their price target on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Pinterest Price Performance

Shares of NYSE PINS opened at $27.20 on Friday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The firm has a 50-day moving average of $29.86 and a 200 day moving average of $33.53. The stock has a market cap of $18.38 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.89.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million during the quarter. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 403,125 shares of company stock valued at $13,669,759. 7.06% of the stock is currently owned by corporate insiders.

Pinterest Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.