Pinterest, Inc. $PINS Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 15.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,503,995 shares of the company’s stock after acquiring an additional 195,804 shares during the quarter. Voya Investment Management LLC’s holdings in Pinterest were worth $48,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Pinterest during the second quarter valued at about $477,853,000. Amundi increased its stake in Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after buying an additional 12,271,958 shares during the period. Swedbank AB raised its position 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. Balyasny Asset Management L.P. lifted its stake in shares of Pinterest by 1,138.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after acquiring an additional 4,230,125 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Pinterest by 15.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after acquiring an additional 2,319,964 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays dropped their target price on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their price objective on Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Evercore ISI lowered their target price on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Monness Crespi & Hardt downgraded shares of Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.97.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares in the company, valued at $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 198,959 shares of company stock valued at $6,345,304 over the last ninety days. Corporate insiders own 7.06% of the company’s stock.

Pinterest Stock Down 0.6%

Shares of Pinterest stock opened at $26.08 on Friday. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The firm has a market capitalization of $17.62 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The stock’s fifty day moving average is $28.65 and its 200-day moving average is $33.14.

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