Pinterest, Inc. $PINS Stock: M&G PLC Raises Stake

M&G PLC grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 132.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,416,640 shares of the company’s stock after purchasing an additional 806,097 shares during the period. M&G PLC owned approximately 0.25% of Pinterest worth $26,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Pinterest during the 3rd quarter valued at about $31,000. Reyes Financial Architecture Inc. purchased a new position in Pinterest in the 3rd quarter worth $34,000. Daytona Street Capital LLC purchased a new position in Pinterest in the 3rd quarter worth $45,000. Provenance Wealth Advisors LLC bought a new position in Pinterest during the 3rd quarter worth approximately $60,000. Finally, IFP Advisors Inc increased its stake in Pinterest by 110.9% in the 3rd quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock worth $66,000 after purchasing an additional 1,846 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore set a $24.00 price objective on shares of Pinterest in a research report on Friday, October 30th. Guggenheim cut their target price on shares of Pinterest from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Phillip Securities upgraded shares of Pinterest to a “strong-buy” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $27.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Finally, Robert W. Baird raised their price objective on shares of Pinterest from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.97.

Pinterest Price Performance

NYSE PINS opened at $19.02 on Tuesday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $27.96. The stock has a 50-day moving average of $20.23 and a 200 day moving average of $20.60. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 66.31, a PEG ratio of 1.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.28 and a current ratio of 4.28.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Pinterest had a net margin of 3.81% and a return on equity of 6.58%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.51 EPS for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 93,750 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total transaction of $2,009,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 621,541 shares of company stock valued at $12,868,011 over the last three months. Corporate insiders own 8.09% of the company’s stock.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps people find ideas and plan projects across interests such as home décor, food, fashion, travel and personal style. Users can save images and videos, known as Pins, to collections called boards and explore related recommendations through the company’s website and mobile apps.

The company generates revenue primarily through advertising. Its advertising products allow businesses to promote content to users, while shopping features and tools help merchants showcase products and connect with people as they explore ideas and make plans.

Founded in 2010 by Ben Silbermann, Evan Sharp and Paul Sciarra, Pinterest is headquartered in San Francisco and serves users in markets around the world.