Algert Global LLC Makes New $463,000 Investment in Pinterest, Inc. (NYSE:PINS)

Algert Global LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,495 shares of the company’s stock, valued at approximately $463,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Wellington Management Group LLP increased its stake in shares of Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Pinterest in the 2nd quarter valued at about $98,655,000. Contour Asset Management LLC increased its stake in shares of Pinterest by 79.5% in the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after acquiring an additional 2,023,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Pinterest by 45.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after acquiring an additional 1,798,494 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in shares of Pinterest by 44.6% in the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after acquiring an additional 1,679,348 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Performance

Shares of NYSE PINS opened at $32.59 on Tuesday. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The stock has a market capitalization of $22.36 billion, a P/E ratio of 155.20, a PEG ratio of 2.56 and a beta of 1.01. The stock’s fifty day moving average is $30.95 and its 200 day moving average is $36.58.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 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 company 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. Pinterest’s revenue was up 20.6% on a year-over-year basis. Equities research analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Wedbush lowered their target price on Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $48.00 target price on shares of Pinterest in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $45.00 target price on shares of Pinterest in a research note on Friday, September 13th. Finally, Susquehanna lowered their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.11% of the stock is currently owned by insiders.

Pinterest Company 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.