International Assets Investment Management LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Posted by Defense World Staff on Apr 15th, 2023

International Assets Investment Management LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 106,805 shares of the company’s stock, valued at approximately $365,000.

Several other institutional investors also recently made changes to their positions in the stock. Ballentine Partners LLC purchased a new stake in shares of Pinterest during the 4th quarter worth $269,000. CENTRAL TRUST Co purchased a new stake in shares of Pinterest in the 4th quarter worth about $141,000. Vision Capital Management Inc. boosted its position in shares of Pinterest by 3.2% in the 4th quarter. Vision Capital Management Inc. now owns 84,459 shares of the company’s stock worth $2,051,000 after buying an additional 2,658 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Pinterest in the 4th quarter worth about $974,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Pinterest by 0.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,968 shares of the company’s stock worth $1,917,000 after buying an additional 430 shares in the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 7th. Rosenblatt Securities reiterated a “neutral” rating and issued a $26.00 price objective on shares of Pinterest in a research report on Wednesday, March 29th. Morgan Stanley boosted their price objective on shares of Pinterest from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 7th. Roth Capital reissued a “neutral” rating on shares of Pinterest in a research note on Tuesday, February 7th. Finally, Piper Sandler boosted their target price on shares of Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.73.

Insider Buying and Selling

In related news, SVP Naveen Gavini sold 11,185 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $27.95, for a total transaction of $312,620.75. Following the completion of the sale, the senior vice president now owns 350,507 shares of the company’s stock, valued at approximately $9,796,670.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, Director Jeffrey D. Jordan sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $27.87, for a total value of $209,025.00. Following the completion of the transaction, the director now owns 191,715 shares in the company, valued at approximately $5,343,097.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Naveen Gavini sold 11,185 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $27.95, for a total value of $312,620.75. Following the completion of the transaction, the senior vice president now owns 350,507 shares of the company’s stock, valued at approximately $9,796,670.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,106 shares of company stock valued at $3,679,503. 7.58% of the stock is currently owned by corporate insiders.

Pinterest Stock Up 0.4 %

NYSE PINS opened at $28.58 on Friday. The company has a 50-day moving average of $26.24 and a 200-day moving average of $25.05. Pinterest, Inc. has a 12 month low of $16.14 and a 12 month high of $29.27.

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