Sei Investments Co. Grows Stake in Pinterest, Inc. (NYSE:PINS)

Sei Investments Co. increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 18.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 807,339 shares of the company’s stock after buying an additional 123,735 shares during the period. Sei Investments Co. owned about 0.12% of Pinterest worth $35,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LLC raised its holdings in shares of Pinterest by 56.7% during the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after purchasing an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Pinterest by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares during the period. Contrarius Investment Management Ltd boosted its stake in Pinterest by 300.0% during the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after purchasing an additional 1,291,854 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Pinterest by 10.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after purchasing an additional 22,101 shares during the last quarter. Finally, Deltec Asset Management LLC acquired a new position in shares of Pinterest during the first quarter worth approximately $6,449,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PINS. Deutsche Bank Aktiengesellschaft started coverage on Pinterest in a research note on Monday. They set a “buy” rating and a $43.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Roth Mkm decreased their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Raymond James dropped their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $42.79.

Pinterest Trading Up 0.2 %

Shares of NYSE:PINS opened at $30.45 on Tuesday. The business has a 50-day moving average price of $32.36 and a two-hundred day moving average price of $36.71. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19. The stock has a market capitalization of $20.80 billion, a P/E ratio of 145.00, a P/E/G ratio of 3.22 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter last year, the business earned ($0.04) earnings per share. The company’s revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 7.11% of the company’s stock.

Pinterest Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.