Havemeyer Place LP Makes New $1.23 Million Investment in Pinterest, Inc. $PINS

Havemeyer Place LP purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, Holdings Channel reports. The firm purchased 47,443 shares of the company’s stock, valued at approximately $1,228,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in Pinterest by 30.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock valued at $33,333,000 after purchasing an additional 241,527 shares during the last quarter. Yousif Capital Management LLC raised its position in Pinterest by 2,298.3% in the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock valued at $4,701,000 after purchasing an additional 177,449 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Pinterest in the 3rd quarter valued at $2,280,000. Korea Investment CORP raised its position in Pinterest by 82.7% in the 3rd quarter. Korea Investment CORP now owns 703,483 shares of the company’s stock valued at $22,631,000 after purchasing an additional 318,351 shares during the last quarter. Finally, Forsta AP Fonden raised its position in Pinterest by 61.2% in the 4th quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock valued at $10,289,000 after purchasing an additional 150,900 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Down 0.3%

Shares of Pinterest stock opened at $21.36 on Monday. The company has a market cap of $11.97 billion, a P/E ratio of 44.50, a PEG ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The firm has a fifty day moving average of $19.64 and a two-hundred day moving average of $21.74.

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

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $20.50, for a total transaction of $960,937.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the transaction, the insider owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 77,362 shares of company stock worth $1,583,253. 8.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. TD Cowen upped their price target on shares of Pinterest from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price target on shares of Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, UBS Group upped their price target on shares of Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.40.

Trending Headlines about Pinterest

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Pinterest’s expanded AWS deal should help support its AI roadmap, improve search and personalization, and potentially strengthen engagement and ad revenue over time. Pinterest Works with AWS to Power Next Chapter of AI-Driven Visual Search Discovery
• Positive Sentiment: Analysts turned more constructive after Pinterest’s strong first quarter, with Oppenheimer raising its price target to $30 and maintaining an Outperform rating, reinforcing bullish sentiment around the stock. Here is Why Pinterest (PINS) is One of the Best Large Cap Stocks Under $30
• Neutral Sentiment: Director Benjamin Silbermann sold 46,875 shares in a pre-arranged Rule 10b5-1 plan, which may weigh on sentiment a bit but does not necessarily reflect a change in outlook. Insider Selling: Pinterest (NYSE:PINS) Director Sells 46,875 Shares of Stock
• Neutral Sentiment: Some recent commentary noted Pinterest had been under pressure after earnings, but the AWS expansion is now the more important near-term catalyst for the stock. Pinterest signs $4 billion Amazon deal for cloud services

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.