Davis Selected Advisers Invests $253.89 Million in Pinterest, Inc. $PINS

Davis Selected Advisers bought a new position in Pinterest, Inc. (NYSE:PINS) during the 3rd quarter, Holdings Channel reports. The fund bought 7,892,057 shares of the company’s stock, valued at approximately $253,887,000. Pinterest accounts for about 1.3% of Davis Selected Advisers’ holdings, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. Norges Bank purchased a new stake in Pinterest in the 2nd quarter worth approximately $477,853,000. Balyasny Asset Management L.P. grew its position 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 buying an additional 4,230,125 shares during the last quarter. Man Group plc grew its position in shares of Pinterest by 185.7% in the 3rd 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 last quarter. Victory Capital Management Inc. increased its stake in shares of Pinterest by 18.5% during the third quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock valued at $685,899,000 after buying an additional 3,213,241 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Pinterest by 5.3% during the third quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock valued at $1,961,933,000 after buying an additional 3,044,674 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the transaction, the insider directly owned 695,187 shares of the company’s stock, valued at approximately $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,457 shares of company stock worth $876,925 over the last ninety days. Insiders own 7.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PINS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinterest in a research note on Monday, December 29th. Rosenblatt Securities reissued a “neutral” rating and set a $20.00 price objective on shares of Pinterest in a research report on Wednesday, March 4th. Sanford C. Bernstein restated an “outperform” rating and issued a $20.00 price objective on shares of Pinterest in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft cut shares of Pinterest from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Friday, February 13th. Finally, Citigroup cut shares of Pinterest from a “buy” rating to a “neutral” rating and reduced their price target for the company from $38.00 to $19.00 in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have given a Hold rating to the company’s stock. According to MarketBeat, Pinterest has an average rating of “Hold” and an average target price of $25.87.

Pinterest Stock Up 1.2%

NYSE PINS opened at $18.78 on Thursday. The firm has a market capitalization of $12.49 billion, a PE ratio of 30.78, a P/E/G ratio of 1.23 and a beta of 0.93. The stock’s 50 day moving average is $20.83 and its 200 day moving average is $26.93. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The firm had revenue of $1.32 billion during 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%.Pinterest’s revenue for the quarter 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, research analysts anticipate 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.