Geode Capital Management LLC Acquires 804,774 Shares of Pinterest, Inc. $PINS

Geode Capital Management LLC lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,188,981 shares of the company’s stock after purchasing an additional 804,774 shares during the period. Geode Capital Management LLC’s holdings in Pinterest were worth $288,872,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Pinterest by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock worth $1,606,632,000 after purchasing an additional 1,069,646 shares during the period. Victory Capital Management Inc. raised its stake in Pinterest by 18.5% in the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock valued at $685,899,000 after acquiring an additional 3,213,241 shares during the period. Ameriprise Financial Inc. raised its stake in Pinterest by 10.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock valued at $634,767,000 after acquiring an additional 1,913,668 shares during the period. State Street Corp raised its stake in Pinterest by 1.6% in the 3rd quarter. State Street Corp now owns 14,079,956 shares of the company’s stock valued at $452,952,000 after acquiring an additional 224,909 shares during the period. Finally, Davis Selected Advisers raised its stake in Pinterest by 49.5% in the 4th quarter. Davis Selected Advisers now owns 11,801,983 shares of the company’s stock valued at $305,554,000 after acquiring an additional 3,909,926 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Up 7.0%

Shares of PINS opened at $21.45 on Tuesday. The firm has a market cap of $12.02 billion, a P/E ratio of 44.69, a P/E/G ratio of 1.08 and a beta of 0.93. The stock has a 50 day simple moving average of $19.45 and a two-hundred day simple moving average of $21.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. On average, analysts forecast that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director owned 27,450 shares in the company, valued at approximately $549,000. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,200 shares of company stock valued at $84,000 in the last ninety days. Insiders own 8.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities boosted their price objective on Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. UBS Group boosted their price objective on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $20.00 price objective on shares of Pinterest in a research note on Friday, February 13th. Loop Capital cut Pinterest from a “buy” rating to a “hold” rating and lowered their price objective for the company from $45.00 to $18.00 in a research note on Friday, February 13th. Finally, Argus cut Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.40.

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.