Mirova Buys New Shares in Pinterest, Inc. $PINS

Mirova bought a new position in shares of Pinterest, Inc. (NYSE:PINS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,145 shares of the company’s stock, valued at approximately $1,806,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC boosted its stake in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after purchasing an additional 419 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Pinterest by 2,409.1% during the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Pinterest in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down from $35.00) on shares of Pinterest in a research note on Friday, February 13th. Rosenblatt Securities reiterated a “neutral” rating and issued a $20.00 target price on shares of Pinterest in a report on Wednesday, March 4th. Mizuho set a $35.00 target price on shares of Pinterest in a research report on Tuesday, February 3rd. Benchmark cut their price target on shares of Pinterest from $39.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Finally, BMO Capital Markets set a $28.00 price target on shares of Pinterest and gave the company an “outperform” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have assigned a Hold rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Hold” and an average price target of $25.87.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer directly owned 540,358 shares in the company, valued at approximately $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 owned 695,187 shares in the company, valued at $15,335,825.22. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,457 shares of company stock valued at $876,925 over the last 90 days. 7.06% of the stock is owned by corporate insiders.

Pinterest Trading Up 1.2%

Pinterest stock opened at $18.78 on Thursday. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93. The firm’s fifty day simple moving average is $20.83 and its 200-day simple moving average is $26.93. The company has a market capitalization of $12.49 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.23 and a beta of 0.93.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. On average, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.