Pinterest, Inc. $PINS Shares Acquired by Renaissance Group LLC

Renaissance Group LLC boosted its position in Pinterest, Inc. (NYSE:PINS) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,019,178 shares of the company’s stock after purchasing an additional 43,541 shares during the quarter. Pinterest comprises about 1.4% of Renaissance Group LLC’s holdings, making the stock its 18th largest position. Renaissance Group LLC owned 0.15% of Pinterest worth $36,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC lifted its stake in shares of Pinterest by 10.1% during the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after buying an additional 300 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Pinterest by 16.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company’s stock worth $94,000 after purchasing an additional 371 shares during the period. Riverpark Capital Management LLC boosted its holdings in shares of Pinterest by 1.2% during the first quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company’s stock worth $987,000 after purchasing an additional 377 shares during the last quarter. Whittier Trust Co. grew its position in shares of Pinterest by 22.3% in the second quarter. Whittier Trust Co. now owns 2,088 shares of the company’s stock valued at $75,000 after purchasing an additional 381 shares during the period. Finally, Prospera Financial Services Inc increased its stake in Pinterest by 1.0% in the second quarter. Prospera Financial Services Inc now owns 40,444 shares of the company’s stock valued at $1,450,000 after purchasing an additional 399 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Up 1.3%

PINS opened at $25.85 on Wednesday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The company has a 50 day moving average of $32.11 and a two-hundred day moving average of $33.94. The company has a market cap of $17.46 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.55 and a beta of 0.96.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, September 19th. The company reported $0.11 EPS 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 for the quarter. Research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PINS shares. Guggenheim decreased their price target on Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Barclays dropped their price target on shares of Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Wedbush cut 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. Finally, Weiss Ratings assumed coverage on shares of Pinterest in a research note on Saturday, November 1st. They set a “hold (c+)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.55.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the transaction, the chief accounting officer directly owned 157,402 shares in the company, valued at approximately $5,502,773.92. This trade represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the 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 sale, the insider directly owned 301,214 shares in the company, valued at $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 611,050 shares of company stock worth $21,260,379 over the last three months. 7.11% 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.