Mediolanum International Funds Ltd Has $3.29 Million Stake in Pinterest, Inc. $PINS

Mediolanum International Funds Ltd cut its position in Pinterest, Inc. (NYSE:PINS) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,475 shares of the company’s stock after selling 11,065 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Pinterest were worth $3,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi increased its stake in Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after acquiring an additional 12,271,958 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the last quarter. Swedbank AB raised its holdings in shares of Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock worth $181,024,000 after buying an additional 4,524,433 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Pinterest during the 2nd quarter worth $82,516,000. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Pinterest during the 2nd quarter worth $71,221,000. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PINS. Evercore ISI decreased their target price on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Wedbush reduced their price target on shares of Pinterest from $44.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Sanford C. Bernstein lowered their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, UBS Group decreased their target price on shares of Pinterest from $51.00 to $48.00 and set a “buy” rating on the stock in a research note 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 607,291 shares of company stock worth $21,128,964 over the last three months. Company insiders own 7.06% of the company’s stock.

Pinterest Price Performance

NYSE:PINS opened at $24.93 on Friday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The company has a market cap of $16.84 billion, a PE ratio of 8.66, a P/E/G ratio of 1.51 and a beta of 0.96. The firm’s 50 day simple moving average is $31.51 and its 200 day simple moving average is $33.85.

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

Pinterest Company 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.