Renaissance Technologies LLC Has $109.83 Million Position in Pinterest, Inc. $PINS

Renaissance Technologies LLC boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 271.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 5,988,631 shares of the company’s stock after purchasing an additional 4,375,000 shares during the period. Renaissance Technologies LLC’s holdings in Pinterest were worth $109,831,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PINS. Inceptionr LLC increased its stake in shares of Pinterest by 36.7% during the 1st quarter. Inceptionr LLC now owns 31,714 shares of the company’s stock worth $582,000 after purchasing an additional 8,513 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Pinterest by 4.5% during the 1st quarter. Sei Investments Co. now owns 413,671 shares of the company’s stock valued at $7,589,000 after purchasing an additional 17,858 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Pinterest by 12.2% during the 1st quarter. First Trust Advisors LP now owns 1,970,857 shares of the company’s stock valued at $36,145,000 after purchasing an additional 213,677 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of Pinterest in the 1st quarter valued at $161,000. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Pinterest by 42.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 11,028 shares of the company’s stock valued at $202,000 after purchasing an additional 3,301 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

NYSE PINS opened at $22.18 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The company has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $20.68. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a market cap of $12.43 billion, a P/E ratio of 46.22, a P/E/G ratio of 1.26 and a beta of 0.89.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, sell-side analysts predict that Pinterest, Inc. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PINS. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 target price on shares of Pinterest in a research report on Tuesday, May 5th. Mizuho boosted their price target on Pinterest from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. UBS Group upped their price target on Pinterest from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company increased their price objective on Pinterest from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.69.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the sale, the insider directly owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 323,845 shares of company stock valued at $6,836,065 over the last 90 days. Corporate insiders own 8.09% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.