Maxi Investments CY Ltd Invests $5.50 Million in Pinterest, Inc. $PINS

Maxi Investments CY Ltd purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 171,000 shares of the company’s stock, valued at approximately $5,501,000. Pinterest makes up approximately 0.5% of Maxi Investments CY Ltd’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Pinterest by 5.3% in the third quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock valued at $1,961,933,000 after buying an additional 3,044,674 shares in the last quarter. Victory Capital Management Inc. increased its holdings 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 worth $685,899,000 after buying an additional 3,213,241 shares in the last quarter. Ameriprise Financial Inc. increased its holdings 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 worth $634,767,000 after buying an additional 1,913,668 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Pinterest by 4.4% in the 2nd quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock valued at $604,673,000 after acquiring an additional 718,105 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Pinterest by 3.8% in the 2nd quarter. State Street Corp now owns 13,855,047 shares of the company’s stock valued at $496,842,000 after acquiring an additional 504,281 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction 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 in the company, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the completion of the transaction, the insider directly owned 695,187 shares in the company, valued at $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,457 shares of company stock valued at $876,925 in the last 90 days. 7.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PINS. KeyCorp cut their price objective on Pinterest from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Wedbush dropped their target price on Pinterest from $30.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Royal Bank Of Canada lowered Pinterest from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $38.00 to $17.00 in a research note on Friday, February 13th. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down from $35.00) on shares of Pinterest in a report on Friday, February 13th. Finally, TD Cowen lowered their price objective on Pinterest from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.87.

Pinterest Stock Performance

Shares of Pinterest stock opened at $18.26 on Tuesday. The stock has a market capitalization of $12.15 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The stock has a 50 day moving average price of $21.17 and a two-hundred day moving average price of $27.12.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Pinterest’s revenue for the quarter was up 14.3% compared to the same quarter last year. 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.