IFM Investors Pty Ltd Buys 538 Shares of Pinterest, Inc. (NYSE:PINS)

IFM Investors Pty Ltd raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 0.5% in the first quarter, HoldingsChannel reports. The fund owned 116,021 shares of the company’s stock after acquiring an additional 538 shares during the period. IFM Investors Pty Ltd’s holdings in Pinterest were worth $4,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GraniteShares Advisors LLC boosted its position in shares of Pinterest by 2.8% in the first quarter. GraniteShares Advisors LLC now owns 16,012 shares of the company’s stock valued at $555,000 after acquiring an additional 433 shares during the period. Norden Group LLC acquired a new position in shares of Pinterest during the 1st quarter worth approximately $214,000. Azzad Asset Management Inc. ADV grew its position in shares of Pinterest by 0.6% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 116,776 shares of the company’s stock worth $4,049,000 after purchasing an additional 753 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Pinterest by 195.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after buying an additional 1,422 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 over the last 90 days. 6.85% of the stock is owned by insiders.

Pinterest Stock Performance

Shares of NYSE:PINS traded up $1.32 during midday trading on Friday, hitting $33.96. 12,886,057 shares of the stock were exchanged, compared to its average volume of 6,671,289. The business’s 50-day moving average price is $34.56 and its 200 day moving average price is $34.14. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of -566.07, a P/E/G ratio of 4.47 and a beta of 0.99. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $41.60.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PINS. Roth Mkm increased their price target on Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. raised their price target on Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, February 9th. Stifel Nicolaus increased their price objective on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Wedbush raised their target price on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

Pinterest Company Profile

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.