Axa S.A. Increases Holdings in Pinterest, Inc. (NYSE:PINS)

Posted by Defense World Staff on Mar 1st, 2023

Axa S.A. raised its stake in Pinterest, Inc. (NYSE:PINS – Get Rating) by 89.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,155 shares of the company’s stock after acquiring an additional 11,381 shares during the period. Axa S.A.’s holdings in Pinterest were worth $562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PINS. Capital International Sarl grew its position in Pinterest by 4.8% during the 1st quarter. Capital International Sarl now owns 11,867 shares of the company’s stock valued at $292,000 after purchasing an additional 539 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Pinterest by 17.6% during the third quarter. First Horizon Advisors Inc. now owns 3,628 shares of the company’s stock valued at $85,000 after buying an additional 543 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Pinterest by 1.4% during the first quarter. Wetherby Asset Management Inc. now owns 42,863 shares of the company’s stock valued at $1,055,000 after acquiring an additional 573 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Pinterest by 4.2% in the 2nd quarter. Motley Fool Asset Management LLC now owns 14,993 shares of the company’s stock worth $303,000 after acquiring an additional 608 shares during the last quarter. Finally, Xponance Inc. lifted its position in Pinterest by 2.8% in the 3rd quarter. Xponance Inc. now owns 23,572 shares of the company’s stock valued at $549,000 after acquiring an additional 634 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors.

Insider Activity at Pinterest

In other Pinterest news, CFO Todd R. Morgenfeld sold 55,241 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $23.04, for a total transaction of $1,272,752.64. Following the transaction, the chief financial officer now owns 641,025 shares in the company, valued at $14,769,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Benjamin Silbermann sold 150,000 shares of Pinterest stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $24.97, for a total transaction of $3,745,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd R. Morgenfeld sold 55,241 shares of the company’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $23.04, for a total transaction of $1,272,752.64. Following the completion of the transaction, the chief financial officer now owns 641,025 shares in the company, valued at $14,769,216. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,410,523 shares of company stock worth $34,684,690. Company insiders own 7.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. MKM Partners cut Pinterest from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research report on Friday, January 20th. Rosenblatt Securities raised their price target on shares of Pinterest from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. DA Davidson increased their price objective on shares of Pinterest from $21.00 to $24.00 in a research report on Wednesday, February 8th. Credit Suisse Group lifted their target price on shares of Pinterest from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. Finally, Roth Capital restated a “neutral” rating on shares of Pinterest in a research note on Tuesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Hold” and an average price target of $28.00.

Pinterest Price Performance

Shares of PINS opened at $25.11 on Wednesday. The business’s 50 day simple moving average is $25.43 and its 200-day simple moving average is $24.26. Pinterest, Inc. has a 1 year low of $16.14 and a 1 year high of $29.17. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of -167.39 and a beta of 0.98.

Pinterest (NYSE:PINS – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a negative net margin of 3.43% and a negative return on equity of 2.25%. The business had revenue of $877.21 million during the quarter, compared to analysts’ expectations of $886.78 million. During the same period last year, the company posted $0.29 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Pinterest, Inc. will post -0.03 earnings per share for the current year.

Pinterest Company Profile

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Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.