Panagora Asset Management Inc. Lowers Holdings in Pinterest, Inc. $PINS

Panagora Asset Management Inc. trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 19.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,474,151 shares of the company’s stock after selling 346,753 shares during the quarter. Panagora Asset Management Inc.’s holdings in Pinterest were worth $38,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PINS. Norges Bank purchased a new position in shares of Pinterest during the fourth quarter worth $357,945,000. Davis Selected Advisers purchased a new position in shares of Pinterest during the third quarter worth $253,887,000. State Street Corp boosted its position in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after buying an additional 7,412,213 shares during the period. Victory Capital Management Inc. boosted its position in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after buying an additional 6,258,628 shares during the period. Finally, Man Group plc boosted its position in shares of Pinterest by 185.7% during the third quarter. Man Group plc now owns 4,983,427 shares of the company’s stock worth $160,317,000 after buying an additional 3,239,222 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Up 5.3%

NYSE:PINS opened at $21.27 on Tuesday. The firm has a market cap of $11.92 billion, a PE ratio of 44.32, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The stock has a fifty day moving average price of $20.05 and a 200 day moving average price of $21.58. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last released its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.Pinterest’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Sell-side analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $21.78, for a total value of $1,020,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 124,237 shares of company stock worth $2,604,190. Company insiders own 8.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PINS shares. Rothschild & Co Redburn set a $23.00 price target on Pinterest and gave the stock a “neutral” rating in a research report on Monday, April 27th. Citigroup raised their price target on Pinterest from $19.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating and set a $30.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. Guggenheim restated a “buy” rating and set a $24.00 price target on shares of Pinterest in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.40.

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.