Pinterest, Inc. (NYSE:PINS) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4,316.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726,279 shares of the company’s stock after acquiring an additional 709,834 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Pinterest worth $23,510,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC increased its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $31.84 on Friday. The stock has a fifty day moving average price of $31.70 and a 200 day moving average price of $36.41. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The stock has a market cap of $21.75 billion, a P/E ratio of 151.62, a price-to-earnings-growth ratio of 2.46 and a beta of 1.01.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. Pinterest’s quarterly revenue was up 20.6% on a year-over-year basis. Equities research analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a research report on Friday, September 13th. Wells Fargo & Company reduced their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price on the stock. UBS Group reduced their price target on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Robert W. Baird lowered their price objective on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.32.

About Pinterest

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.