Pinterest, Inc. $PINS Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 24.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,349 shares of the company’s stock after selling 121,437 shares during the period. Federated Hermes Inc. owned 0.05% of Pinterest worth $11,850,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Pinterest by 15.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after buying an additional 110,089 shares during the period. Renaissance Group LLC increased its stake in shares of Pinterest by 4.5% during the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after buying an additional 43,541 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Pinterest by 243.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after purchasing an additional 49,204 shares in the last quarter. SG Americas Securities LLC raised its stake in Pinterest by 302.0% in the third quarter. SG Americas Securities LLC now owns 133,193 shares of the company’s stock valued at $4,285,000 after buying an additional 100,063 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Pinterest by 101.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 206,903 shares of the company’s stock worth $6,652,000 after acquiring an additional 104,192 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

PINS opened at $22.11 on Friday. The company’s 50 day simple moving average is $26.03 and its 200 day simple moving average is $31.19. Pinterest, Inc. has a 1 year low of $21.83 and a 1 year high of $40.90. The stock has a market capitalization of $14.94 billion, a PE ratio of 7.68, a P/E/G ratio of 1.06 and a beta of 0.91.

Pinterest (NYSE:PINSGet Free Report) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.04). Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares in the company, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $26.18, for a total transaction of $60,030.74. Following the sale, the insider directly owned 697,480 shares of the company’s stock, valued at $18,260,026.40. The trade was a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,161 shares of company stock worth $2,796,466 over the last 90 days. Company insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the topic of several research analyst reports. Guggenheim cut their price target on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Sanford C. Bernstein dropped their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Bank of America cut their price target on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Barclays cut their price objective on Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, Benchmark lowered their price target on Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average target price of $38.00.

View Our Latest Stock Analysis on PINS

Pinterest News Roundup

Here are the key news stories impacting Pinterest this week:

Pinterest Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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